April 13, JLM Pacific Epoch - Dajia Group signed with the Jiujiang municipal government of Jiangxi province on April 9 to invest a total of RMB 1.5 billion - including the cost of equipment, land, factories and other fixed assets - in a photovoltaic project, reports jjxw.cn. Hong Kong's China Strategic Holdings (235.HK) will also provide funding to the project, the report said.

The project's initial phase is expected to cost RMB 200 million - including RMB 100 million for 38 monosilicon furnaces, two polysilicon furnaces, two wire saws and six solar cell laminators - for annual processing capability of 400 tons of monosilicon ingots and 100MW of solar wafers and cells. Phase one construction of three factories and one unit of worker housing is scheduled for completion in December, with production planned to begin this year. The phase is expected to generate RMB 600-800 million within two years and go public overseas, said the report.