(Yicai Global) Feb. 28 -- Chinese solar firm Xinte Energy Co. aims to double its total output of polysilicon, a key raw material for the photovoltaic sector, to 66,000 tons, through the construction of a CNY4.0 billion (USD645 million) plant in the northwestern Xinjiang Autonomous Region.
The Xinjiang-based firm has received approvals from local government agencies to build the project with an annual output of 36,000 tons, it said in a statement.
The facility, taking two years for completion, will use modified production technology from Siemens AG, Xinte added.
The company will set up a project company to carry out the project and make up 70 percent of its registered capital. The firm will bring strategic investors onboard to contribute the remaining 30 percent.
Xinte Energy is a major domestic polysilicon producer and photovoltaic projects contractor principally engaged in upstream and downstream solar sector.