GCL Technology to Extend Granular Silicon Project in Leshan to the End of 2022

PVTIME – GCL Technology Holdings Ltd. (03800.HK), formerly GCL-Poly Energy Holdings Ltd, an investment holding company mainly engaged in the manufacture and sale of solar materials, disclosed on June 14 that the estimated completion date of its granular silicon project in Leshan will be postponed and the investment will be increased.

According to the announcement, Leshan GCL, a holding subsidiary of GCL, has signed a supplementary agreement to increase the investment from CNY 190 million to 428 million for the Phase I of the granular silicon project in Leshan. And the estimated completion date will be extended from May 15, 2022 to December 30, 2022.

Meanwhile, the maximum contract amount of the Phase II of this particular project will be increased from CNY 200 million to 400 million, and the completion date will be extended from May 23, 2022 to December 30, 2022 as well.

The estimated production capacity is 100,000 MT of granular silicon in GCL Leshan base, which is one of its granular silicon production bases in China. GCL has replicated its Xuzhou project, and has ongoing silicon production base with annual output of 100,000 MT in Xuzhou as well as another base in Baotou with an annual output of 300,000 MT. The total production capacity of GCL is expected to reach 360,000 MT by the end of 2022.

Furthermore, from July 6, 2021 to November 30, 2021, the company signed with several subsidiaries of China National Chemical Engineering Co., Ltd. (CNCEC) with a number of contracts, which this Leshan project and other EPC services were included, with a total contract amount of CNY 2.596 billion.