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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.



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