All told, Hanwha SolarOne plans to invest approximately €367.6 million ($500 million) in three years to build cell and module production facilities with 2 GW annual capacity in Nantong.
Dr. Peter Xie, President and Chief Executive Officer of Hanwha SolarOne, described the Nantong location as ideal for several reasons: Its Economic and Technological Development Zone is home to some of the country's best employee talent in precision electronic manufacturing; Its location is just north of the company’s headquarters, and in close proximity to it manufacturing base in Qidong; and I’ts located adjacent to one of the China’s ten largest sea ports.
Combined, these factors will allow Hanwha SolarOne to blend management oversight and manufacturing resources.
“The new facility, once completed, will also provide much needed expansion of our production capacity,” Xie said. “We are preparing to meet increased demand for our products as we expect the global shift towards green energy, especially solar energy, to increase sharply in the coming years.
“Maintaining our commitment to bringing the best value to our customers, the new facility is expected to lower production costs and provide an additional edge over our competitors,” he said.
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