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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2013
FAIR VALUE MEASUREMENTS [Abstract]  
Schedule of Financial Instruments for which Fair Value Does not Approximate Carrying Value

The following table presents the financial instruments for which fair value does not approximate carrying value as of December 31, 2012 and 2013:

 

    As of December 31, 2012     As of December 31, 2013  
    Carrying Value     Fair Value     Carrying
Value		     Fair Value  
Long-term bank borrowing   $ 187,520,880     $ 166,148,388       134,870,287       124,047,823  
Payables for purchase of property, plant and equipment   $ 1,126,255     $ 1,014,716       -       -  
Schedule of Nonrecurring Fair Value Measurements

The following table displays assets and liabilities that were measured at fair value on a non-recurring basis after initial recognition;

 

    Year ended December 31, 2012  
Description  

Carrying
amount

     Quoted Prices in
Active Markets
for Identical
Assets (Level 1)		     Significant
Other
Observable
Inputs (Level 2)		     Significant
Unobservable
Inputs (Level 3)		     Total Losses  
Long-lived assets held and used   $ 53,287,118     $       $ -     $ 10,532,637     $ 42,754,481  

 

    Year ended December 31, 2013  
Description  

Carrying
amount

     Quoted Prices in
Active Markets
for Identical
Assets (Level 1)		     Significant
Other
Observable
Inputs (Level 2)		     Significant
Unobservable
Inputs (Level 3)		     Total Losses  
Long-lived assets held and used   $ 307,942,362     $       $ 149,517,535     $ -     $ 158,424,827