Tongwei to Invest High Purity Polysilicon Project


On March 13, Tongwei Co., Ltd. announced that the company plans to construct 50 000t/a high purity polysilicon and its supporting new energy projects in Wutong district, Leshan City, Sichuan province.  
Yongyang, under Tongwei, plans to sign a joint venture agreement with Longji Co., Ltd. to establish a joint venture, which operates a plant with a capacity of 50 000 tons high purity polysilicon per year. The proposed JV will have a registered capital of RMB8 billion, with Yongyang and Longji holding 85% and 15% shares, respectively.
The project is expected to invest totally RMB8 billion, which will be constructed in two phases. The RMB4 billion first phase - 25 000 t/a high purity polysilicon will be constructed by June 30, 2017 and be completed in 2018.
Focusing its core business on agriculture and new energy, Tongwei - a leading technologically advanced private enterprise - continues its development blitz with chemical industry, pet food, IT, construction and real estate.