First Solar to invest $1.2b for new plant in Vietnam

The US-based First Solar Technology Group was seeking investment opportunities for building a factory in HCM City with expected capital of $1.2 billion.

The city’s functional authorities in HCM City revealed that First Solar had contacted with HCM City high-tech complex, Tan Phu Trung Industrial Park and Phong Phu Industrial Park to seek for the background to build the new plant in an area of 72 hectares.

Due to the group’s requirement for large land area that the city’s high-tech complex cannot provide, First Solar Group has to look for investment opportunity in other two industrial parks.

Last year, First Solar reported gaining total revenue from production and sales of $2.1 billion dong. In the first three months of this year, the group’s revenue reached $568 million, up 36 percent year-on-year.

Tuoitre

Tags: First Solar, invest in Vietnam, Vietnam investment

Posted by VBN on Jun 7 2010. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry