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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Arko Hldgs | LSE:AKO | London | Ordinary Share | GB0003754743 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.425 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0918O Arko Energy Holdings PLC 29 July 2003 For Immediate Release 29 July 2003 Arko Energy Holdings plc Project in relation to the Construction of a Chemical Class of Industrial Silicon Manufacturing Plant in Suizhou City of Hubei Province, PRC Arko Energy Holdings plc (the "Company/Arko") is pleased to announce today that the Suizhou Municipal Commission of Development Program ("the Commission") has approved "the Proposal of Arko Silicon (Hubei) Limited for the Construction of a Chemical Class of Industrial Silicon Manufacturing Plant with Annual Output of 50,000 tons" Certificate of Approval no.: Wai Jing Mao E Shen Zi (2003) 7345. The approval was granted in line with the rights given by the People's Government of Zengdu District of Suizhou City, Hubei Province in the agreement dated 12 July 2003 in relation to the use of land covers an area of 133,000 m2 and exploration and mining right in the silicon stone quarry located at the district. Arko Silicon (Hubei) Limited ("Arko Silicon") is a private foreign-owned enterprise, incorporated in the People's Republic of China. Arko Energy Limited, a wholly owned subsidiary of the Company, is the sole shareholder of Arko Silicon which engaged businesses in production, processing and sale of chemical class of industrial and polycrystalline silicon. The recently completed feasibility study on the project relating to the construction of a chemical class of industrial silicon manufacturing plant with 50,000 tons annual output which concluded that the project was technically sound and financially viable has been submitted to the Commission. The total estimated capital investment of the project is RMB245,000,000 (equivalent to #19,140,625) which will be financed both internally and from bank loans. Chemical class of industrial silicon (so-called metal silicon or crystallized silicon) is commonly used in industries like metallurgy, chemical engineering, electron and communication etc. The chemical class of industrial silicon is a raw material for monocrystalline and polycrystalline silicon which can produce silicon chips after processing. The silicon chip is a raw material for integrated circuit (IC) and electronic parts. The major consuming countries of industrial silicon are China, North and South America, Japan, Europe and Australia etc. Arko Chairman, K.C. Chin, said that he was delighted with the way in which the project had been progressed. " The new silicon manufacturing plant will bring a positive synergy effect to the Changzhou power plant in Suizhou City. The reason of setting up the silicon manufacturing plant next to the Changzhou power plant is that on the one hand the income of the power plant can be more reliable and stable by supplying the electricity directly to its own industrial enterprise and on the other hand the silicon manufacturing plant has overwhelming competitiveness as the major production cost, electricity which amount to 50% of the direct cost, is relatively low since the supply is directly from its owned power plant." It is anticipated that the construction on the project will be completed towards the end of October and the annual production target of 50,000 tons could be achieved very rapidly upon the commencement of production. Equiries to: Angela Leung - Executive Director Tel: +852 2219 9999 Arko Energy Holdings plc email: angelal@arkoholdings.com Nigel Atkinson/Robert Lo Tel: 020 7710 7400 Nabarro Wells Co. Limited, Nominated Adviser Email: nigelatkinson@nabarro-wells.co.uk; robertlo@nabarro-wells.co.uk This information is provided by RNS The company news service from the London Stock Exchange END MSCBUGDRLDDGGXC
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