LDK Solar Sells Partial Ownership Stake In Silicon Plant.
LDK Solar Co. Ltd. has entered into an agreement to sell a 15% ownership stake in its polysilicon plant in Xinyu City, China. The plant has an annualized capacity of 15,000 metric tons (MT). Jiangxi International Trust and Investment Co. Ltd. has agreed to purchase this interest for approximately RMB 1.5 billion (equivalent to approximately $219 million).
"Jiangxi International Trust and Investment Co.'s investment in our 15,000 MT polysilicon plant will significantly strengthen our financial position and increase our near-term operating flexibility," states Xiaofeng Peng, chairman and CEO of LDK Solar.
LDK Solar's polysilicon plant is China's largest today. Before its startup, the largest operating polysilicon plant in China was 3000 tpa Laeshan facility built according to the process design of Giprosintez (Volgograd).
Today the documentation developed by Volgograd designers is used for construction of Russia's first polysilicon plant in Usol'ye-Sibirskoye, Irkutsk region. Long-term experience in silicon organics, thorough studying and summarizing of the world's leading TCS and PCS production technologies, proprietary patents and know-how, 3D design capabilities have enabled Giprosintez to rightfully become Russia's leader in this field.
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