Metallurgical Group, Baogang team up in polysilicon project

China Metallurgical Group Corp (MCC), the country's leading mining and smelting operator, and Baotou Iron and Steel Group (Baogang) unveiled a plan to jointly invest RMB 8 billion in a polysilicon-manufacturing project, the China Daily reported.

The project is designed to have an annual capacity of 5,000 tons of polysilicon.

The joint project, taking advantage of China Metallurgical's advanced technology in polysilicon, is another strategic move of Baogang prior to the expected industry consolidation in the polysilicon sector, according to industry insiders.

Polysilicon is mainly used as a major material for the production of solar panels.