6 Billion Yuan! Tongwei to Launch 120,000 MT Silicon Project in Leshan City of China

PVTIME – Tongwei Co., Ltd. (SH.600438), a leading company engaged in the R&D, manufacturing and marketing of core solar products, disclosed on 7 February 2023 that it intends to invest in a high-purity crystalline silicon and related supporting projects in Leshan City, with a total investment of approximately 6 billion yuan.

This particular project is expected to be launched at the end of June 2023, and to be operational in 2024, as all necessary documents and elements are in place. In addition,  the construction costs have been reduced by sharing some of the infrastructure facilities with the Phase I and II of the the silicon projects initiated by Sichuan Yongxiang, a subsidiary of Tongwei Solar.

The new investment is in line with the company’s development plan in the high-purity crystalline silicon business, and will further promote its leading position in the industry, the company stated.

Furthermore, Tongwei Solar released its 2022 earnings guidance in January 2023, expecting a net profit of RMB 25.2-27.2 billion in 2022, representing an increase of 207%-231% year-on-year.