Hanwha Chem to build plant in Yeosu
[BRIEFS]
Apr 12,2011
Hanwha Chemical Corp., a chemical unit of Korea’s Hanwha Group, said yesterday that it plans to spend 1.04 trillion won ($924 million) to build a polysilicon production plant.
The new facility in Yeosu, South Jeolla, will be completed by July 2013, the company said in a regulatory filing. Polysilicon is used in solar panels and solar cells.
Local conglomerates such as Samsung and LG have been rushing into the solar energy-sector to diversify their business portfolios. The solar business was worth $30 billion last year and is expected to grow 20 percent annually.