(Yicai Global) Oct. 11 -- Shares of Jiangsu Pacific Quartz jumped after the leading Chinese quartz glassmaker announced a CNY3.2 million (USD447 million) plan to expand capacity.

Pacific Quartz [SHA: 603688] closed up 4.8 percent at CNY120 (USD16.69) today, after earlier gaining as much as 6.6 percent.

To be built in Donghai county, Jiangsu province, where Pacific Quartz is headquartered, the project will consist of three segments with annual production capacities of 60,000 tons of high-purity quartz sand, 150,000 tons of semiconductor-grade purity quartz sand, and 5,800 tons of semiconductor-grade purity quartz products, the firm said late yesterday. The construction is expected to last three years.

The project will help the company improve its ability to supply key materials to the photovoltaic and semiconductor industries, Pacific Quartz added.

Quartz crucible made of high-purity quartz sand is one of the materials used to make photovoltaic materials. Quartz products made of semiconductor-grade high-purity quartz sand are used to produce semiconductor wafers.

Editor: Futura Costaglione