UPDATE 1-LDK to set up 1GW solar cell facility in east China

* Facility also has annual capacity of 500MW modules

* Production expected to begin in Q2 2011

Aug 16 (BestGrowthStock) – Solar wafer maker LDK Solar Co Ltd
(LDK.N: ) said it will set up a manufacturing facility in the
eastern Chinese province of Anhui, with an annual capacity of 1
gigawatt solar cells and 500 megawatts of solar modules.

The company, which expects production at the facility to
commence in the second quarter of 2011, said it was invited to
the project in the Hefei High-Tech Industrial Development Zone
by the provincial government.

Hefei High-Tech Construction and Investment Group will
provide financing of 2.5 billion yuan ($368 million) to LDK
Solar for up to three years to build this facility, LDK said.

LDK shares, which have gained about 46 percent since their
year-low in June, closed at $7.27 Friday on the New York Stock
Exchange.
($1=6.793 YUAN)
(Reporting by Antonita Madonna Devotta in Bangalore; Editing
by Aradhana Aravindan)

UPDATE 1-LDK to set up 1GW solar cell facility in east China