Shangji Automation to Expand Capacity Further With the Construction of a 10GW Monocrystalline Ingot Pulling Project

PVTIME – Shangji Automation issued an announcement today stating that its wholly-owned subsidiary Hongyuan New Materials (Baotou) Co., Ltd. will be investing in the construction of a 10GW monocrystalline ingot pulling and supporting project.

According to the announcement, in order to further strengthen the company’s market competitiveness in the monocrystalline silicon field, the company will spend 3.5 billion yuan to establish the project inside the Baotou Equipment Manufacturing Industrial Park. The source of funding will include but are not limited to self-owned funds, loans from financial institutions, or other financing methods. The project is expected to be put into operation in 2022.