KHOBAR, Saudi Arabia/FRANKFURT (Reuters) - Saudi-based IDEA Polysilicon Co. has signed an agreement for Germany's Centrotherm Photovoltaics, the world's No.2 maker of solar equipment, to help it build a polysilicon plant in Saudi Arabia.
IDEA Polysilicon, a new company set up by investors in the Gulf to produce the key solar power panel making material, did not disclose the value of the contract for Centrotherm to provide know-how and engineering for the plant in Yanbu.
The project, which is expected to cost more than 4 billion Saudi riyals ($1.1 billion), could produce up to 10,000 tonnes per year of polysilicon, IDEA said in a statement on Tuesday.