May 8, 2018 / 10:43 AM / 6 months ago

BRIEF-Daqo New Energy Announces Plan To Increase Production Capacity To 65,000 MT By 2020

May 8 (Reuters) - Daqo New Energy Corp:

* DAQO NEW ENERGY ANNOUNCES EXPANSION PLAN TO INCREASE PRODUCTION CAPACITY TO 65,000 MT BY 2020

* DAQO NEW ENERGY - PHASE 4A EXPANSION PLAN CALLS FOR CONSTRUCTION OF NEW MANUFACTURING FACILITY ADJACENT TO EXISTING FACILITIES IN SHIHEZI

* DAQO NEW ENERGY CORP - DESIGN, CONSTRUCTION AND INSTALLATION OF NEW FACILITY IS SCHEDULED TO COMMENCE IN MAY 2018

* DAQO NEW ENERGY - PILOT PRODUCTION AT NEW FACILITY EXPECTED TO BEGIN IN Q4 2019 BEFORE RAMPING UP TO 35,000 MT ANNUAL PRODUCTION CAPACITY IN Q1 2020

* DAQO NEW ENERGY CORP - CAPITAL EXPENDITURES FOR EXPANSION PROJECT IS ESTIMATED TO BE APPROXIMATELY RMB3.2 BILLION

* DAQO NEW ENERGY - CAPITAL EXPENDITURES FOR EXPANSION PROJECT WILL BE FINANCED BY CO'S CASH, CASH FLOW FROM OPERATIONS, BANK LOANS & OTHER SOURCES

* DAQO NEW ENERGY CORP - CONSTRUCTION OF PHASE 3B NOW EXPECTED TO BE COMPLETED AND BEGIN PILOT PRODUCTION BY END OF 2018 Source text for Eikon: Further company coverage:

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