Changzhou Almaden Stock Co Ltd. will build an AED 110 million (USD 30 million/EUR 23.4 million) photovoltaic (PV) panels factory at the Dubai Silicon Oasis. The company expects to complete the plant in the first quarter of 2015. It will be able to produce as many as 400,000 solar panels annually, using a super thin dual glass PV technology.

Changzhou Almaden has already signed a deal with the Dubai Silicon Oasis Authority DSOA, for locating the plant at the free zone technology park. The PV factory will also include a training centre.