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PROPERTY, PLANT AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2024
PROPERTY, PLANT AND EQUIPMENT, NET.  
PROPERTY, PLANT AND EQUIPMENT, NET

4. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consist of the following:

December 31, 

    

2023

    

2024

Buildings and plant

$

906,293

$

1,221,351

Machinery and equipment

 

2,020,209

 

2,939,696

Furniture, fixtures and equipment

 

124,283

 

159,058

Motor vehicles

 

3,219

 

3,564

Less: Accumulated depreciation

 

535,159

 

703,980

Less: Impairment of fixed assets

170,565

Property, plant and equipment, net

$

2,518,845

$

3,449,124

Construction in process

 

1,107,578

 

52,534

Less: Impairment of construction in process

2,448

Total

$

3,626,423

$

3,499,210

Depreciation expense was $107.1 million, $148.9 million and $206.4 million for the years ended December 31, 2022, 2023 and 2024, respectively.