Tongwei Seeks Expansion, Despite Imminent Threat of Oversupply Facing Polysilicon Market

Tongwei Co., Ltd. announced that it plans to spend 6 billion yuan building a 120,000 mt/year high-purity crystalline silicon project in Leshan city, Sichuan province. The project is scheduled to start construction before the end of June 2023 and be put into operation by 2024.

Industry analysts point out that the polysilicon industry is expected to enter a cycle of supply surplus, and a new round of industry reshuffle is imminent. At this point, the expansion of leading enterprises will enable them to grab more market share and a bigger say in pricing.