China-based polysilicon manufacturer Daqo New Energy has broken ground on the second phase of its polysilicon facility in Shihezi in the autonomous region of Xinjiang in the north-west of the country.
The manufacturer, which made its entry on the NYSE late last year, said it expects the facility to begin commercial production late last year.
The initial production capacity of the second phase of the polysilicon factory will be 3,000 metric tons.
‘The Shihezi, Xinjiang phase two project will play a key role in our future development,’ said Dr Gongda Yao, CEO of Daqo New Energy.
‘With its favourable electricity cost and strong government support, we intend to utilise the strategic advantage of this site for our future polysilicon production expansion in order to meet our customers’ ever growing demand.’
Daqo New Energy doubled its income in 2010, growing its gross profits 70 per cent on a quarterly basis to a record high of $45.8m. When it announced its annual financial results earlier this month, the company forecast its polysilicon shipments reaching 1,100 metric tonnes in the first quarter of 2011.
Once the second phase of the polysilicon production facility expansion is complete, the company said in its financial statement that it expects to top its 2010 shipments this year.
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