Sep 10 2007
LDK Solar Co. Ltd., a leading manufacturer of multicrystalline solar wafers, today announced that it has signed an agreement with Fluor Corporation (NYSE: FLR) to provide general engineering, procurement, construction management (EPCM) services for LDK's polysilicon manufacturing plant at its Xinyu, Jiangxi headquarters.
This signed agreement is in line with the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009. The company has also indicated that it plans to commence volume production by the end of 2008.
"We are pleased that Fluor will work with us to achieve high-quality construction management standards during this significant endeavor. Our partnership with a reputable EPCM service provider reiterates our commitment to remaining on schedule and within budget in establishing its polysilicon production plant," said Mr. Xiaofeng Peng, Chairman and Chief Executive Officer. "Speed of execution will be a key to this agreement, and there will be an incentive to Fluor if this project is performed ahead of schedule and below budget. This latest agreement once again demonstrates execution of our strategy as we align our resources to facilitate our capacity expansion plans."