Military Production Authority signs MoU with China’s GCL Group to establish solar panel factory

INVESTMENT WATCH- China’s GCL Group to establish USD 2 bn solar panel factory with Military Production Authority: The Military Production Authority signed yesterday an MoU with China’s GCL Group to establish a USD 2 bn solar panel factory, according to a Military Production Ministry statement. The facility will produce solar panels with a projected generation capacity of 5 GW per annum. Panels will be manufactured using local silica sand. The statement is otherwise scant on details on the project, and does not clarify whether the two sides have reached an agreement on the location or timeline of implementation for the project.