The ground breaking ceremony for JA Solar Ltd Co’s US$1 billion solar cell plant was held on Saturday in the northern province of Bac Giang. — VNS Photo

The ground breaking ceremony for JA Solar Ltd Co’s US$1 billion solar cell plant was held on Saturday in the northern province of Bac Giang.

The JA Solar plant has an investment capital of $320 million planned for the first three years. It is expected to have a yearly turnover of $500 million.

Earlier, JA Solar Hongkong Investment (JA Solar) - China’s leading manufacturer of solar power products - signed a contract with Sai Gon- Bac Giang Industrial Zone JSC (SBG) to lease 88 hectares of land in the SBG’s Quang Chau Industrial Zone for the factory.

The plant will also be one of the largest investments in the industrial zone and create more than 3,000 jobs.

JA Solar, a listed company with revenues of $2.15 billion last year, has eight factories manufacturing solar power products in Europe, the US and Japan. — VNS