(Yicai Global) Dec. 8 -- Optical fiber and cable producer Hengtong Optic-Electric Co. [SHA:600487] has signed a USD200 million deal with Inner Renewable Energy (Cambodia) Co. to build photovoltaic plants.
The Jiangsu-based firm said yesterday that it will be responsible for the design, procurement, construction, installation and commissioning of two 100-megawatt PV production facilities in Cambodia.
The project, which is part of the Belt and Road Initiative, will boost the Cambodian economy and company performance, Hengtong Optic-Electric said.
The Chinese company also plans to invest USD20 million in India to set up a new unit and build optical fiber and cable factories. Hengtong Optic-Electric said Dec. 4 that it has established seven research and development bases overseas and set up branches in more than 30 countries.