Canadian Solar Inc. (CSIQ), a Chinese solar power equipment maker, will construct a photovoltaic cell manufacturing facility in Eastern China.

The plant may have annual production capability of 600 megawatts and will likely be built about eight kilometers (5 miles) from Canadian Solar’s existing cell factory in Suzhou, the company said nowadays inside a statement.

Construction will begin soon after nearby permits are obtained and is expected to be completed in 2012. Suzhou-based Canadian Solar will provide 61 % with the registered equity. Additional monetary details in the deal weren’t disclosed.Canadian Solar announced yesterday a joint venture with GCL-Poly Power Holdings Inc., China’s largest polysilicon maker, to build a 600-megawatt wafer production plant in Suzhou. Such as existing long-term supply agreements and internal wafer capacity, Canadian Solar expects to reach at the commence of next year two gigawatts of production capacity, from wafers to solar cells to completed modules, according to the statement.

The company fell 44 cents, or four.47 percent, to $9.41 at 2:20 p.m. in Nasdaq Stock Industry trading.

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