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The National Industrialisation Company of Saudi Arabia (Tasnee) has said it has completed due diligence on a further $16m strategic investment in Australia's Dyesol, a leading developer of dye solar cell technologies that can applied on buildings and rooftops to generate electricity, Saudi Gazette has reported. An original investment of $4m from Tasnee was announced in February. According to chairman Richard Caldwell the then $4m investment could increase up to $20m within 18 months, subject to due diligence. Tasnee is the second-largest producer of titanium oxide in the world. It also owns several titanium mines in Australia.