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CSG to spend RMB 7 bln on glass & PV projects

Post Time:Dec 28,2010Classify:Company NewsView:426

Dec. 28, 2010 (China Knowledge) - CSG Holding Co Ltd<000012><200012>, a glass manufacturer and seller also engaged in solar power business, on Dec. 25 said it will invest around RMB 7 billion in a series of glass and photovoltaic projects.

 

In a statement, the Shenzhen-listed firm plans to increase the annual output capacity of a PV project to 4 million square meters of TCO films, major components for solar cell production, in 2012.

 

The company, which has an annual output capacity of 300 megawatts of silicon chips in Yichang, Hubei Province, will also add a new production line with a 700-MW capacity that will be available in the first half of 2013.

 

In Central China, CSG Holding intends to spend RMB 567 million to build an energy-saving glass production base.

 

CSG Holding hopes to transfer its glass business from the traditional sector to new energy and high-tech fields through the RMB 7-billion investment, sources reported.

 

In the first three quarters of this year, the company earned nearly RMB 5.5 billion in operating revenue, 54% more than in the same period of 2009, and its net profit surged 80% year on year to RMB 1.04 billion.

 

Source: http://www.chinaknowledge.com/Newswires/News_DetaiAuthor: shangyi

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