The
loan,
which
was
trailed
in
the
Chinese
media
earlier
this
week,
will
be
used
to
finance
a
technology
upgrade
at
LDK’s
Mahong
Polysilicon
Plant.
A
statement
says:
“The
financing
will
primarily
be
used
to
invest
in
hydrochlorination
technology,
a
critical
technological
improvement
necessary
to
significantly
reduce
the
manufacturing
cost
of
silicon
production
at
the
plant.
“LDK
Solar plans
to
drawdown
the
loan
as
market
conditions
improve
and
the
necessary
equipment
is
ready
for
its
use.”
According
to
the
company,
the
more
than
12bn
yuan
it
has
invested
in
Mahong
“has
been
the
primary
reason
for LDK
Solar's
high
debt
ratio”.
LDK
has
$3.1bn
in…
