500,000 Tons, Total Investment of 2 Billion Yuan: Another Photovoltaic Manufacturer Plans Overseas Capacity Expansion

According to Wechat Official Account @solar868, on April 27, Almaden announced that in order to improve the implementation of the company's overseas strategic layout, promote the communication and cooperation between the company and the overseas market, further expand overseas business and enhance the company's comprehensive competitiveness, it intends to set up a wholly-owned subsidiary Almaden Glass Industry Co. in the United Arab Emirates through the company's wholly-owned subsidiary Almaden (Middle East and North Africa) Co. Ltd. (the name has been approved by local (the name has been approved by the relevant local departments), and invest in the construction of photovoltaic glass production line project with an annual output of 500,000 tons (including glass kiln and ancillary deep processing production line), with a total planned investment of USD 240.23 million.

1. Project name: Annual output of 500,000 tons of photovoltaic glass production line project.
2. Project construction location: in Khalifa Industrial Park Free Trade Zone (KIZAD), Abu Dhabi, UAE.
3. Project construction content: the construction scale is a 1600t/d glass melting kiln and supporting deep processing production line.
4. Project construction period: 18 months. The construction period is a forecast period, and will be adjusted accordingly if there are changes in the relevant domestic and foreign policies, project approval and other implementation conditions and the investment environment.
5. Project investment amount and source of funds: the total investment of the project is about USD 240,230,000 (the final total project investment is subject to the actual investment), and the source of funds is the company's own funds and self-financing funds.

Source：https://mp.weixin.qq.com/s/j6Kd_ZUspx_CbmTh03_FoA