US-based Stion has signed a $320 million investment project that will call for establishing a plant in Daegu, South Korea to produce CIGS thin-film solar cell modules, the Daegu Metropolitan City Government announced Friday.
Stion is a unique thin-film solar panel maker which uses copper-indium-gallium-selenide (CIGS) to make solar panels, more affordable compared to polysilicon-based panels.
The investment marks the largest amount that the city has attracted from abroad.
Under the agreement, the US company will build Stion-Korea on a site of 83,000 square meters in the city’s industrial park by 2014 to produce 300-megawatt CIGS thin-film solar cell modules.
With the investment, up to 600 jobs are expected to be created. Daegu-based AVACO, a manufacturer of primary equipment for solar panels, plans to provide its equipments to Stion.
[Written by Sung-deok Woo / edited by Soyoung Chung]
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