Chinese solar manufacturer LDK Solar Co., Ltd. (NYSE:LDK) announced plans to build a massive new facility for solar cells and modules in Anhui Province.
The facility--to be located in the Hefei High-Tech Industrial Development Zone--has a planned annual capacity of 1.0 gigawatt (GW) of crystalline-based solar cells and 500 megawatts (MW) of solar modules.
Production is expected to commence in 2Q11.
Hefei High-Tech Construction and Investment Group will provide financing of RMB 2.5 billion (US$367 million) to LDK Solar for up to three years to build this facility.
LDK shares, which have gained about 46% since June, closed at $7.27 Friday on the New York Stock Exchange, accordign to Reuters.
