October 29 (Solar) – China's GCL-Poly Energy Holdings Ltd (HKG:3800) has further increased its plans for polysilicon capacity expansion to 60,000 tonnes.
The company is building a polysilicon plant in Xinjiang, China, which according to the original announcement in April last year, would have included 40,000 tonnes of new-built facilities. The project was then expected to bring the company's annual polysilicon production capacity to 115,000 tonnes.
In its interim report in September 2018, GCL-Poly said that the capacity of the new-built facilities would be increased to 50,000 tonnes, without increasing the initially planned capital investment, and that the first phase of the plant would be put into operation in the third quarter of the year.
The company now announced that the capacity of the new-built facilities will be further expanded to 60,000 tonnes and will officially start testing production. As a result, the investment in the expansion project will go up to around CNY 6 billion (USD 862m/EUR 756m) from CNY 5.68 billion.
According to the company, thanks to low electricity cost in Xinjiang, its Xinjiang polysilicon base could become "the world’s leading low-cost, high-quality polysilicon production base for modified Siemens method polysilicon manufacturing."
(CNY 1 = USD 0.144/EUR 0.126)