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Saudi Arabia could become a regional leader in polysilicon for solar panels

March 17/2011

(Arabian Oil and Gas) -- Polysilicon Technology Company (PTC) of Saudi Arabia announced recently that it has signed a USD 378 mln Lump Sum Turn Key Engineering, Procurement and Construction (LSTK EPC) contract for Phase 1 of its Polysilicon Plant with Hyundai Engineering Company and KCC Engineering and Construction Corporation.

The plant will be located in Al Jubail Industrial City 2, Saudi Arabia, and will have an initial production capacity of 3.350 metric tonnes of Solar Grade Polysilicon. PTC has selected the most innovative and competitive technology allowing it to produce high purity polysilicon (+ 9ns). Polysilicon is the main raw material used in the solar industry which is then converted into ingot, wafers and then into solar cells that are put into panels in order to generate electricity from the sun.

Polysilicon Technology Company is a 50:50 JV between Mutajadedah Energy Company (MEC) of Saudi Arabia and KCC Corporation of Korea (KCC). KCC is a construction and fine chemicals company and a global producer of polysilicon. MEC is a local Saudi Company owned by Swicorp Joussour Company (SJC) and Chemical Development Company (CDC) incorporated to invest across the solar energy value chain in Saudi Arabia.

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