Sieyuan Electric's Subsidiary Plans $480 Million Investment to Expand Transformer Production Capacity

Stock News06-16

Sieyuan Electric Co.,Ltd. (ASX: 002028) has announced that its wholly-owned subsidiary, Jiangsu Sieyuan Special Transformer Co., Ltd., intends to acquire land use rights through a public bidding process.

The subsidiary plans to construct new factory buildings dedicated to the production, assembly, and storage of transformer-related products, with an estimated investment of 480 million yuan, excluding land costs.

This capacity expansion project, funded by the subsidiary, is aimed at manufacturing transformer-related products upon completion.

The initiative is expected to significantly enhance the company's production and delivery capabilities within its transformer business segment.

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