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Wednesday, 13 June 2018

Military to build USD 2 bn solar panel manufacturing facility with Chinese partner

INVESTMENT WATCH- Military to build USD 2 bn solar panel manufacturing facility with Chinese partner: The Military Production Ministry is planning to sign a contract to build a USD 2 bn integrated solar panel factory in partnership with China’s Golden Concord Group (GCL) in two months’ time, according to minister Mohamed El Assar. Funding for the JV is to be supplied by Chinese banks, apparently, and the facility will produce each year panels with a combined generation capacity of 5 GW. The Military Production Authority had signed an MoU for the project last month.

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