Chinese PV manufacturer EGing Photovoltaic Technology (EGing PV) recently announced subsidiary Changzhou EGing PV’s sapphire ingot growth technology has matured.

The company is planning to invest RMB 132.73 million (US $21.38 million) to annually manufacture 750K millimeter (mm) 4-inch sapphire ingots. After the project is established, the company estimates earnings rate before tax will reach 30.44 percent, and Return on Investment (ROI) will be 3.78 years post tax.

Under the project, 50 sapphire growth furnaces and related equipment will be installed at the plant. Calculations based on 100 kilogram raw material, the company would be able to manufacture 750 sapphire ingots, which would roughly equivalent to almost 750K mm of 4-inch sapphire ingots. Additionally, the company will be manufacturing 370K mm 2-inch sapphire ingots.

According to a Chinese-language Hexun report, the recent investment project will benefit the company to expand its business. The company is strengthening capabilities in coping with risks, and quickly expanding company development, which fits EGing PV’s development strategy, and will have little impact on the company’s finances and business management.