The local Polysilicon Technology Company (PTC) has signed a $380m lump sum turnkey engineering, procurement and construction (LSTK EPC) contract for its polysilicon plant in Saudi Arabia.
The deal has been signed with South Korea’s Hyundai Engineering Company and KCC Engineering and Construction Corporation and will be located at Jubail Industrial City.
In a statement, PTC said that the first phase of the plant will have an initial capacity of 3,350 tonnes a year (t/y) of solar-grade polysilicon. The polysilicon will then be used to produce a number of products for the solar power industry.
“[Saudi Arabia’s] location and infrastructure advantages makes it unique for KCC global expansions and investments,” says Mong IK Chung, president and chief executive officer of KCC . “We will provide all the help and support needed to make it one of the most competitive projects in the world.”
PTC is a 50:50 joint venture between the local Mutajadedah Energy Company (MEC) and South Korea’s KCC Corporation. KCC is a global producer of polysilicon and will be providing the technology for the plant.
“[KCC] has existing polysilicon plants operating in South Korea, which will allow them to add significant value to the execution and operation of the project ensuring its success and timely start up,” says Walid al-Shoaibi, chairman of MEC.
After the first phase is completed, PTC intends to expand the capacity of the plant to 12,000 t/y.