PVTIME – On July 6, TCL Technology Group Corporation (000100.SZ) announced that its wholly-owned subsidiary Tianjin Silicon intends to set a venture company for silicon production with Jiangsu Zhongneng Polysilicon Technology Development Co., Ltd., a subsidiary of GCL (03800.HK).
According to the announcement, Jiangsu Zhongneng will invest in 2.7 billion yuan, accounting for 60% of Inner Mongolia Xinhuan the target venture, and Tianjin Silicon will invest in 1.8 billion yuan, accounting for 40% of it.
Meanwhile, the Tianjin Silicon company will invest in Xinhua Semiconductor Technology (Inner Mongolia ) Co., Ltd. with 0.72 billion yuan for 10,000 MT of electricity silicon project, for Jiangsu Xinhua Semiconductor Technology Co., Ltd., a subsidiary of Jiangsu Zhongneng, will invest 0.98 billion yuan in this particular project as well.
The partnership is an important step for the two sides to expand the silicon market as well as to increasing their production capacity for silicon products. The two sides expect further cooperation in polysilicon, semiconductor products, large-size wafer and related fields.