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5 Billion! Drinda to Layout 10GW Photovoltaic Cell Project in Oman

published: 2024-06-18 17:49

On June 14, 2024, Drinda released an announcement on the signing of the Investment Intent Agreement of Oman Photovoltaic Cell Project.

According to the announcement, on June 13, 2024, the Company and the Oman Investment Authority jointly signed the Investment Intent Agreement, intending to invest in the construction of a TOPCon PV cell manufacturing plant in Oman with a capacity of 10GW, with an investment amount of approximately US$700 million (approximately RMB5 billion), to be implemented in two phases, each phase of 5GW.

This Agreement is an agreement of intent reached through friendly negotiation between the two parties, and the investment progress, construction location and construction period of the specific project have not been finalized. Subsequently, the Company will submit the project to the Board of Directors or the General Meeting of Shareholders for consideration and timely announcement in accordance with the finalized investment scale and progress of the project in accordance with the Articles of Association of the Company and relevant laws and regulations.

The establishment of the project will promote the formation of the PV industry chain in Oman and attract more related supporting enterprises to settle in Oman. The project will help improve the living standards of the local community, increase employment in Oman, and contribute to Oman's emission reduction and carbon neutrality targets in support of Oman Vision 2040.


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