Zhonghuan Semiconductor to take 10% share in Xinjiang GCL

Drawing of GCL-Poly’s polysilicon plant in Xinjiang
GCL-Poly’s subsidiary Jiangsu Zhongneng and Zhonghuan Semiconductor will hold 90% and 10%, respectively, of Xinjiang GCL’s equity

Jiangsu Zhongneng Polysilicon, a subsidiary of GCL-Poly Energy Holdings, and Tianjin Zhonghuan Semiconductor, a manufacturer of monocrystalline wafers, have agreed to subscribe for new shares in Xinjiang GCL with a total consideration of RMB1,480 million (approx. US$218 million).

After the capital has been paid in, Jiangsu Zhongneng and Tianjin Zhonghuan will hold 90% and 10% of the equity, respectively. The proceedings will be used for the construction of Xinjiang GCL’s polysilicon plant with an annual capacity of 40,000 metric tons in two phases by April and November 2018.

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