Polysilicon Technology Company announces contract award to build the region's first polysilicon manufacturing plant
Polysilicon Technology Company (PTC) announced today that it has signed a $380m Lump Sum Turn Key Engineering, Procurement and Construction (LSTK EPC) contract for Phase 1 of its Polysilicon Plant with Hyundai Engineering Company and KCC Engineering and Construction Corporation.
The plant will be located in Al Jubail Industrial City 2, Saudi Arabia, and will have an initial production capacity of 3,350 metric tonnes of Solar Grade Polysilicon. PTC has selected the most innovative and competitive technology allowing it to produce high purity polysilicon (+ 9ns). Polysilicon is the main raw material used in the solar industry which is then converted into ingot, wafers and then into solar cells that are put into panels in order to generate electricity from the sun.
Polysilicon Technology Company is a 50:50 joint venture between Mutajadedah Energy Company (MEC) of Saudi and KCC Corporation of Korea (KCC). KCC is a leading construction and fine chemicals company and a global producer of polysilicon. MEC is a local Saudi Company owned by Swicorp Joussour Company (SJC) and Chemical Development Company (CDC) incorporated to invest across the solar energy value chain in Saudi Arabia.
Swicorp Joussour Company (SJC) とChemical Development Company (CDC)は2008年に NorSun ASとJV契約を結んでいた。
KCC Corporation is a manufacturer of chemical products used in construction, automobile and other industries. The Company operates its business under two divisions: inorganic chemicals and organic chemicals. Its inorganic chemicals division provides construction interior materials and lagging materials, such as flat glass, tinted glass, figured glass, insulation and fireproof materials, interior and exterior materials, and others. Its organic chemicals division manufactures and provides paints used in automobile, construction and ship industries, as well as polyvinyl chloride (PVC) products, which are used as window materials and flooring materials, and also used for PVC doors, tiles and others. The Company completed the merge with its wholly owned subsidiary, engaged in the manufacturing of poly silicon ingot, effective November 18, 2010. The Company acquired 50% of POLYSILICON TECHNOLOGY COMPANY(Saudi Arabia), mainly engaged in the polysilicon business, on December 3, 2010.
Chairman of MEC said, "KCC are a very strong partner with
tremendous technical and R&D capabilities and have great
interests in investing in the Kingdom. We are very fortunate to
have them as our joint venture partner. They have existing
polysilicon plants operating in Korea which will allow them to
add significant value to the execution and operation of the
project ensuring its success and timely start up."
Faysal Hamza, Executive Director of MEC said, "Alternative energy is a new area of interest in the Middle East, which has gained recent attention due to the pressing need for economies to look towards diversified energy sources for future generations. Harnessing diversified sources of energy is critical to the development of tomorrow's economies. We are proud to be involved in launching, with our partners, the first plant of its kind, creating a nucleus for the solar industry in the Kingdom of Saudi Arabia."
Mr. Mong IK Chung, President & CEO of KCC said, "Saudi Arabia is one of the major countries in the region. It's location and infrastructure advantages makes it unique for KCC global expansions and investments. We are very excited about this venture and look forward to its success. We will provide all help and support needed to make it one of the most competitive projects in the world."
Mr. Rabeaa Fattal, Board Member of MEC said, "We are very pleased to have signed the LSTK EPC contract for our project with Hyundai Engineering Company and KCC Engineering and Construction. Both are well reputed international companies with vast experience in building complex high-tech plants and specifically in building similar polysilicon plants. We are very confident of their capability to deliver, on schedule, one of the most competitive plants in the world."
"Over the past few years, the solar industry has gone through major consolidation and optimization which has led to a huge reduction in costs allowing the industry to see continued growth bringing it closer to grid parity with conventional sources of power. The Polysilicon Project in Jubail is only our first step. PTC intends to expand the plant to an annual capacity of 12,000 metric tonnes as well as continue further downstream into the manufacturing of Ingot and Wafers," added Mr. Ibrahim Al-Humaidan, Executive Director & CEO of PTC.
KCC 旧称 金剛高麗化学