The company has also announced a tender to bid for engineering services and supervision of the project, for which the winning tender will be chosen in the coming weeks.
The project will be the largest manufacturing facility in the Middle East for the production of highly-pure polysilicon with a total capacity of up to 10,000 tons per year, of which 2500 tons will be converted to solar wafers.
The deal was signed by Mr. Marwan Al Ghurair, Chairman of the Board of IDEA Polysilicon, and Mr. Dirk Stenkamp, COO of Centrotherm Photovoltaic.
Speaking at the signing ceremony, Mr. Al Ghurair outlined the background to the project, saying, “During the past four years the Company has worked with the relevant authorities to provide all the factors that will enable the project to succeed including the allocation of land for the plant, gas, provision of electricity and all other facilities necessary to operate the plant. In addition, we have conducted studies on quality standards and market requirements, as well as the choice of technology in collaboration with engineering companies worldwide.”
Dr. Basel Abu-Sharkh and Dr. Abdul-Basit Andijani, consultants to IDEA Polysilicon, indicated that the plant capacity is optimized and the most advanced technologies have been selected in order to save on energy and raw materials and lower the capital cost, making the plant a global cost leader that will be very competitive.
A memorandum of understanding was also signed to supply all the raw materials required for this industrial project, which according to AlGhurair, will cost more than SR4bn.
The new industrial complex will contribute to the kingdom’s strategic aim of diversifying its non-oil economy and developing the renewable energy sector to provide alternative sources of energy, in addition to providing 1000 local job opportunities in its various facilities.
The company also has future plans to expand into the production of solar cells and panels as well as establishing solar powerplants. The project will form a nucleus for a solar industry cluster at the industrial city of Yanbu, which is in line with the plans of the Royal Commission and the National Industrial Clusters Development Program.
Al Ghurair expressed his sincere thanks to the Royal Commission for Jubail and Yanbu for the support given to the project, and also expressed his gratitude to the Ministry of Petroleum and Mineral Resources and Saudi Aramco for their encouragement and support for the project which will contribute positively to the Kingdom’s vision to become a leader in the manufacture of clean energy.
He also expressed appreciation to the officials of the National Industrial Clusters Development Program, who from the very start have substantially contributed to the formulation of the project within the framework of its continued support for the localization of new technologies and the formation of value-added industrial clusters.
IDEA International for Investment and Development, the initiators of the IDEA Polysilicon Company, is based in Saudi Arabia and owned by a group of businessmen from the Kingdom of Saudi Arabia and GCC Countries. It has already developed and owns several major industrial projects including the IDEA soda ash and calcium chloride manufacturing plant.
Wednesday, February 8- 2012 @ 16:07 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.