LDK Solar Co. Ltd. has entered into an agreement to sell a 15% ownership stake in its polysilicon plant in Xinyu City, China. The plant has an annualized capacity of 15,000 metric tons (MT). Jiangxi International Trust and Investment Co. Ltd. has agreed to purchase this interest for approximately RMB 1.5 billion (equivalent to approximately $219 million).
"Jiangxi International Trust and Investment Co.'s investment in our 15,000 MT polysilicon plant will significantly strengthen our financial position and increase our near-term operating flexibility," states Xiaofeng Peng, chairman and CEO of LDK Solar.
New & Noteworthy
