Le Thanh Hai, Politburo member and Secretary of the municipal Party Committee handed over the investment certificate to the group recently.
As the largest foreign-invested project in Ho Chi Minh City in 2010, the one billion-plus US$ plant will produce thin-film solar power panels.
According to Tymen DeJong, the group’s Vice Chairman in charge of global production, the first phase of the project will be kicked off on January 24 at a cost of US$300 million and include four lines.
|Le Thanh Hai (R), Secretary of the municipal Party Committee hands over the investment certificate to the group.|
The project’s capacity will be raised four times in the next phase, he said, adding that the plant is scheduled to be officially put into operation by mid-2012.
The project is of significance to Ho Chi Minh City, where the demand for energy, especially electric power is great and decisive to the city’s development, said Le Hoang Quan, Chairman of the Ho Chi Minh City People’s Committee, underlining the importance of the project.
He also spoke highly of First Solar Group’s position as the world’s largest thin-film solar power panel producer, taking the lead in using clean, green materials for its production.
The large-scale project reveals the improved investment environment of Ho Chi Minh City and the city’s investment policies that target areas of science, environmental protection and high added value.
First Solar Group was established in 1999 and began commercial production in 2002.