On February 8, Fuyao Glass announced that the board of directors of the company agreed to increase its investment in Fuyao USA, a wholly-owned subsidiary, by 650 million US dollars, of which 300 million US dollars were used to invest in the construction of Fuyao USA's coated automotive glass production line, toughened sandwich side window production line and other projects. US $350 million will be used by Fuyao America for additional investment in its subsidiary Fuyao Illinois and by Fuyao Illinois for investment in the construction of one kiln and two lines (float glass production line), four solar backplane glass deep processing production lines, plant and supporting infrastructure projects.
The announcement shows that the company has recently completed the procedures for filing overseas investment projects, and has obtained the Notice of Filing Overseas Investment Projects issued by the National Development and Reform Commission and the Certificate of Overseas Investment of Enterprises issued by the Fujian Provincial Department of Commerce.
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