Jiangsu Sanfangxiang Plans Polysilicon Project in Hunan     

Jiangsu Sanfangxiang Group Co., Ltd. plans to build a 3 000 t/a plant for semiconductor grade polysilicon in the Jizhuang Industrial Park in Jishou City Economic Development Zone, Hunan province.
   The project will be built in two phases. The phase I could produce 1 500 tons a year of clubbed polysilicon based on the n-silane and the Siemens reactor technologies. The phase II could have a further annual capacity of 1 500 tons for granular polysilicon using the n-silane and fluid bed reactor technologies. Total investment is estimated at RMB3 billion.
   Jiangsu Sanfangxiang, based in Jiangyin city, Jiangsu province, is a large manufacturing group focusing on chemical fibers and textiles. The company plans to venture into the polysilicon industry because of the huge market potential and Hunan's friendly investment environment.
   To help facilitate the Hunan project, the company set up two subsidiaries in Hunan in 2008, named Xiangxi Sanfangxiang New Energy Co., Ltd. and Sanfangxiang Xiangxi Mining Co., Ltd.
   Sanfangxiang Group holds a 50.33% stake in Jiangsu Sanfangxiang Industrial Co., Ltd. (SH: 600370), which was listed in March 2003. The listed arm engages in the manufacturing of polyester, and PBT (polybutylene terephthalate). The company's first quarter net profit dropped around 71% from a year earlier, due to soft demand from textile market and slump in product prices.