Chinese co plans 1-GW solar panel factory in Oman - report

Chinese firm Ningxia Zhongke Jiaye New Energy and Technology Management Co has teamed up with the Oman Investment Fund to build a 1-GW solar panel factory in Oman, a top official told Times of Oman.

The two parties will form a USD-94-million (EUR 86m) joint venture for the construction of the facility, with a 400-MW first phase, in the Duqm free zone. Under the terms of a newly-signed memorandum of understanding (MoU), Ningxia Zhongke will get a 51% stake in the venture, while its Omani partner will have 49%, the Chinese company’s president, Li Li, told the newspaper.

Li Li was quoted as saying that Ningxia Zhongke had already carried out an initial feasibility study for the project and will now focus on a detailed market study. The firm has plans to cover the entire solar industry value chain in the future, in the event that this initial project proves successful, the president has added.

Ningxia Zhongke expects to begin work on the scheme towards the end of 2017, or early next year, according to the article.

(USD 1.0 = EUR 0.916)

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