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FINANCIAL NEWS
Saudi PTC to launch 1st Polysilicon Plant worth USD378m
20 Mar 2011
(MENAFN) Saudi-based Polysilicon Technology Company (PTC) announced singing a USD378 million deal with Hyundai Engineering Company and KCC Engineering and Construction Corporation, for conducting lump sum turn key engineering, procurement and construction (LSTK EPC) in the first phase of the PTC’s first Polysilicon Plant, reported Arabian Oil and Gas.
PTC stated that this would be the first polysilicon plant in the region and would be located in Al Jubail Industrial City 2. The plan is for the plant to have a production capacity of 3,350 metric tons of Solar Grade Polysilicon.
It is worth noting that PTC is joint venture owned equally by Mutajadedah Energy Company (MEC) of Saudi Arabia and KCC Corporation of Korea (KCC).
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