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FINANCIAL NEWS
Tusung Engineering in talks for solar energy project in Saudi Arabia
06 Dec 2011
(MENAFN) South Korean Tusung Engineering Company proposed Jeddah Chamber of Commerce and Industry (JCCI) to set up a solar energy venture, Arab News reported.
The company, specialized in solar technology, offered to transfer of technology and know-how with the venture.
H. C. Song, chief of research at Tusung Engineering Company said that Saudi Arabia had vast potential for producing solar energy and his company could collaborate in meeting the Kingdom’s needs after conducting a thorough study.
Solar energy in the kingdom is not only cost-effective but can be produced and generated at half the cost of the energy produced by certain other means, said Song.
He also said that the proposed venture will focus on applications of solar energy for small and medium enterprises (SMEs) and residential purposes.
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