Idea Polysilicon, Technip E&C sign project management services agreement
- Saudi Arabia: Monday, November 26 - 2012 at 09:39
- PRESS RELEASE
Idea Polysilicon Company (IPC) has signed an agreement with Technip E&C Limited, by which Technip will provide project management and engineering services for the IPC's project for producing polysilicon, ingots and wafers in Yanbu Industrial City.
The contract was signed by Dr. Basel Abu Sharkh, Managing Director of Idea Polysilicon Company and Mr. David Humphries, Sales Vice President of Technip E&C Limited.
During the signing ceremony in Al-Khobar, Dr. Basel said, "By producing polysilicon and wafers, the IPC project will unlock the photovoltaic solar energy industrial value chain in Saudi Arabia that starts with polysilicon and ends with kilo watt hours that will contribute to meeting the growing demand for electricity in Saudi Arabia."
He went on to say, "Studies conducted with international consultants indicate that Saudi Arabia is the most competitive manufacturing location for PV solar energy and that having an integrated manufacturing value chain will allow PV solar energy to be produced locally at a viable cost."
Dr. Basel stated that that this agreement embodies the common objectives between IPC and Technip Engineering, which aims at benefiting from the expertise of Technip in the field of engineering services and project management, especially after Technip's acquisition of the chemical and energy divisions of Shaw, which will enhance the engineering services capabilities of Technip.
The new industrial complex will contribute to the Kingdom's strategic goal of diversifying its non-oil economy and developing the renewable energy sector to provide alternative sources of energy, in addition to creating up to 1000 new local job opportunities in its various facilities.
The Company also has future plans to expand downstream into production of solar cells and panels, as well as developing and operating PV Solar Power Plants.
The project will form the nucleus of a solar industry cluster in Yanbu Industrial City, which is in line with the plans of The Royal Commission and the National Industrial Clusters Development Program.
The project received strong support from different governmental authorities such as the Ministry of Petroleum and Mineral Resources, Saudi Aramco, the Industrial Cluster Development Program, and The Royal Commission for Jubail and Yanbu through allocation of gas, power and land in Yanbu Industrial City.
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