Sharp to invest $729 mln in new solar cell plant

TOKYO Thu Mar 27, 2008 9:25am EDT

Aaron MacKendrick works on a display of Sharp flat panel televisions as exhibitors prepare for the Consumer Electronics Show (CES) at the Las Vegas Convention Center January 4, 2008. REUTERS/Las Vegas Sun/Steve Marcus

Aaron MacKendrick works on a display of Sharp flat panel televisions as exhibitors prepare for the Consumer Electronics Show (CES) at the Las Vegas Convention Center January 4, 2008.

Credit: Reuters/Las Vegas Sun/Steve Marcus

TOKYO (Reuters) - Japanese consumer electronics maker Sharp Corp said on Thursday it would spend 72 billion yen ($729 million) to build a new solar cell plant in Sakai, western Japan.

Sharp said in July it would build the world's largest solar cell plant by March 2010, along with a 380 billion yen liquid crystal display (LCD) panel plant, but it did not disclose the size of capital investments for the solar cell factory.

Sharp competes with Germany's Q-Cells in solar cells. Solar companies around the world are expanding production capacity rapidly to meet growing demand for green energy to counter global warming.

(Reporting by Kiyoshi Takenaka)

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