Shanghai Aerospace to build solar projects, make solar equipment in Zhangye
Sep 22, 2011 - Shanghai Aerospace Automobile Electromechanical Co Ltd (SHA:600151) and the city of Zhangye in Gansu province will jointly develop solar power projects and make solar power equipment.
The agreement between the company and the city's municipal government is for five years, Shanghai Aerospace said in a statement earlier this week.
The company is principally engaged in new energy development. It also makes car spare parts, solar batteries, fuel oil pipes and car electronic products. In July, Shanghai Aerospace unveiled a plan to raise up to CNY 2.2 billion (USD 344m/EUR 254m) in a stock offering to finance solar power projects.