FINANCIAL NEWS

MBM to build $400m solar plant in Dubai

08 Aug 2010

(MENAFN) Dubai-based investment firm MBM Holdings has announced plans to build a $400 million polysilicon plant in the emirate along with Singapore-based ERC Private Limited, Gulf News reported.

The 2500MT/a solar-grade polysilicon plant will be the first upstream plant of its kind to be constructed in the UAE and has synergies with Abu Dhabi’s focus on downstream solar projects, said a statement from MBM Holdings.

ERC, which has an extensive experience in developing similar plant, said a new firm MBM Solar Holding has been set up to develop the project.

The planned polysilicon plant will have a total capacity of 2,500 tons per annum of high quality solar-grade polysilicon product and is expected to start production in early 2012.

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