Solexel Plans $942M Investment In Malaysia

Silicon Valley-based solar photovoltaic cell manufacturer Solexel is planning to invest $942 million in manufacturing plant in Senai Hi-Tech Park, Iskandar, Malaysia, over the next five years, China Post reports. The plant is anticipated to generate export revenue of more than $1 billion annually.

The construction will commence in the first quarter of 2012 and the plant is due to start production by the end of 2013. It will operate in Malaysia through a wholly owned subsidiary and its output will be exported mainly to Europe and the U.S.

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