Tongwei: LONGi injects new investment into Sichuan Yongxiang's 200ktpy high-purity silicon project (Phase II)
2022-11-29 17:07:18 [Print]
Tongwei Co
Under the agreement, the registered capital of the project company will increase from RMB1.6 billion (USD224 million) to RMB5 . 6 billion (USD782 million), among which there are RMB2 . 04 billion (USD285 million) from Yongxiang and RMB1 . 96 billion (USD274 million) from LONGi . After the capital is increased, Yongxiang will hold 51% of the project company and LONGi will hold 49% accordingly, while the company is still a holding subsidiary of Yongxiang.
The announcement revealed that the second phase of the project is scheduled to start commercial production within 2024.
. , Ltd . announced on November 28 that the company's wholly-owned subsidiary, Sichuan Yongxiang Co . , Ltd . (Yongxiang), reached a cooperation consensus and signed a capital increasement agreement with LONGi Green Energy Technology Co . , Ltd . (LONGi) to jointly invest in the 200ktpy high-purity silicon green power project (Phase II) of Tongwei in Yunnan.Under the agreement, the registered capital of the project company will increase from RMB1.6 billion (USD224 million) to RMB5 . 6 billion (USD782 million), among which there are RMB2 . 04 billion (USD285 million) from Yongxiang and RMB1 . 96 billion (USD274 million) from LONGi . After the capital is increased, Yongxiang will hold 51% of the project company and LONGi will hold 49% accordingly, while the company is still a holding subsidiary of Yongxiang.
The announcement revealed that the second phase of the project is scheduled to start commercial production within 2024.