EGING PV Invests RMB 4B in Solar and Sapphire Projects

Chinese solar manufacturer EGING PV announced its subsidiary Changzhou EGING PV signed a strategic framework agreement with Qitai County government in Xinjiang Province, China.

Under the agreement, EGING PV will be investing RMB 4 billion (US $640 million) in the construction projects of 1,000 sapphire growth furnaces, and 200 trillion watt solar power plants.

The agreement will speed up the company’s PV production expansion construction projects, power plants, and sapphire material business in the next few years, the company stated. EGING PV projected the recent developments would improve its profitability and met the company’s long term plans.

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