Saudi solar

Saudi joint stock firm Swicorp Joussour Company (SJC), Chemical Development Company (CDC) of Saudi Arabia and Norway's NorSun have formed a partnership agreement to invest in the construction of a polysilicon solar energy plant in the industrial city of Jubail in Saudi Arabia.

Saudi joint stock firm Swicorp Joussour Company (SJC), Chemical Development Company (CDC) of Saudi Arabia and Norway's NorSun have formed a partnership agreement to invest in the construction of a polysilicon solar energy plant in the industrial city of Jubail in Saudi Arabia.

NorSun will initially own 50% of the shareholding in the company, with SJC and CDC holding the balance. The transaction is aligned with SJC's focus on energy and energy-intensive industries.

Commercial production is due to begin in 2010 with an initial capacity of 3,000 metric tons per year.

"This project is a very compelling investment with the solar industry's projected growth of more than 30% across the value chain and its contribution towards developing alternative energy in the region," commented Faysal Hamza, executive director, private equity, Swicorp Joussour.

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020