MANHASSET, N.Y. China-based photovoltaic cell maker Suntech Power Holdings Co. Ltd. plans to establish manufacturing and R&D facilities in Caohejing Hi-tech Park, Shanghai. The facilities are expected to begin operations in early 2008.
Suntech recently opened a sales office in Shanghai and announced it would establish a U.S. subsidiary
"Our new facilities in Caohejing Hi-tech Park will provide us with another site to expand our production capacity, and develop new solar technologies and value-added PV solutions," said Dr. Shi Suntech's chairman and CEO. "We believe that the proximity to central Shanghai will also help us to continue to attract highly qualified staff."
Suntech anticipates that the manufacturing and R&D facilities will cost approximately $60 million to develop.