China based adhesives and new materials manufacturer Hubei Huitian New Materials will venture into solar backsheet production in Vietnam. The new fab will have an annual production capacity of 26 million m2.
The investment decision was made public after the company board approved the RMB 70.9 million ($9.77 million) investment in the Southeast Asian nation. The company expects to recover the investment within 3 years of the fab coming online.
Huitian has tasked its wholly-owned subsidiary Huitian Rongsheng (Hong Kong) Co. Ltd. to set up its own wholly-owned subsidiary called Vina Evergreen Advanced Material Co. Ltd. to execute the manufacturing project.
Housed in the industrial park at Hai Duong province, the facility is scheduled to be implemented within 16 months. According to the management, it aims to serve the growing solar PV module manufacturing segment within Vietnam with an eye on exports as well (see Thornova's 1.5 GW Solar Module Factory Online).
The company previously announced that it was building a solar backsheet facility with an annual output of 36 million m2 (see China PV News Snippets).
TaiyangNews has covered the significant material changes used in backsheets and encapsulants in our Market Survey on Backsheets & Encapsulation 2022-2023. It is available for free download on our website here.