On March 31, Jinko Solar Hongkong Ltd. received the investment and business registration certificates for its $500 million solar photovoltaic cell factory in Song Khoai Industrial Park in Quang Ninh province.
|JinkoSolar PV Vietnam will be the first smart factory in JinkoSolar's global network |
The certificates for JinkoSolar PV Vietnam were handed over at a ceremony attended by Quang Ninh dignitaries and representatives of the investor and the industrial park (IP).
|JinkoSolar Hongkong invests in photovoltaic cell technology project in Quang Ninh |
JinkoSolar PV Vietnam will be constructed on a 32-hectare plot in Song Khoai IP in Quang Yen Economic Zone, Quang Ninh. It is projected to create employment for 2,244 local employees.
Huang Xin Jing, project director of JinkoSolar Hong Kong, said at the ceremony that the new facility will be the third factory in JinkoSolar’s global operations and will be its very first smart factory, using all-new imported production lines, machinery, and equipment.
"To continue expanding production, JinkoSolar's survey panel has visited Vietnam twice since October 2020 and conducted surveys in more than 20 provinces and 30 industrial zones. Eventually, we chose Song Khoai IP for our new production facility in Vietnam,” he said.
He also lauded the swift and efficient support of Quang Ninh authorities even during the Lunar New Year holiday. Thanks to these efforts, the project is on schedule to break ground by the end of April and officially start commercial operations at the end of October.
Meanwhile, Bui Van Khang, Vice Chairman of Quang Ninh People's Committee, expressed pride that the JinkoSolar project was the fastest project to receive an investment and business registration certificate. The application documents were approved within 48 hours after submission.
Once operational, JinkoSolar PV Vietnam will generate VND29.7 trillion ($1.3 billion) in annual revenue and contribute VND873 billion ($37.96 million) to the state coffers after tax incentives, resulting in an annual after-tax profit of VND3.93 trillion ($170.87 million).
JinkoSolar Hong Kong is one of the largest manufacturers of solar panels in the world, with a leading global market share of 12.6 per cent in 2019.
With the expected production capacity of 1.2 billion USD / year, this FDI project will contribute significantly to the socio-economic development of Quang Ninh province in the near future. Amata Group will work closely with Jinko Solar investor to put all the efforts to fulfill the proposed plan and look forward to receive the support of Quang Ninh province continously in the process of building and bringing the factory into operation. Amata Group committed to continue to keep looking and introduce more FDI investors into Song Khoai Industrial Park in Quang Ninh.