Jubail Industrial City - 2 will be the site of a world-class polysilicon plant, described as the first of its kind and scale in the region.

The project is spearheaded by the strategic partner First Energy Bank (FEB) and the techno-commercial developer, Project Management and Development Company (PMD), a Saudi based industrial group.

The project will cover a total area of approximately 375,000 sq m and a total production capacity of 7,500 tonnes per year of high quality polysilicon product. It will be managed and developed by Cosmos Industrial Investment Corporation, a subsidiary of FEB, in partnership with PMD and is expected to start production in 2013.

The venture is structured to benefit from the world-class infrastructure and support facilities available in Jubail Industrial City. Approximately 400 job opportunities will be created for Saudi nationals and it is expected that future expansion of the project facility (in the second phase) will include investments in downstream sector such as the manufacturing of ingots, wafers, cell and modules.

Vahan Zanoyan, CEO of First Energy Bank, said renewable sources of energy would remain a priority globally, and solar energy in particular was a logical industry to take off and flourish in the Middle East and North Africa region.
"We are therefore bullish on the polysilicon industry."