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FINANCIAL NEWS
Oman identifies silicon industry as top economy booster
23 Jun 2016
(MENAFN) Oman has all of the crucial elements needed to appeal international investment in the manufacture of silicon, a strategically vital metal with extensive application in metallurgy, silicone-based products, and in solar panels.
Accordingly, the presence of quartz deposits in the Sultanate, coupled with the availability of low-cost electricity, competitive financing, and excellent industrial infrastructure, a good sign for the founding of a silicon smelter in the Sultanate.
Valued to hold about 4.5 million tons of silica quartz, the deposits display chemical features that make it fit as a raw material for silicon yield, plus other ingredients that will also go into the smelter are wood and a type of charcoal.
The experts explained that alongside its solid and robust export potential, a national silicon industry also has the capacity to catalyze investment in an extensive selection of associated, value-added and downstream spin-offs.
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