Planning to become the first integrated polysilicon and solar wafer manufacturer in the Middle East, Saudi Arabian start-up IDEA International Polysilicon Company (IPC) has appointed Al Rajhi Capital as financial advisor.
Said to be a leading investment bank in Saudi Arabia, Al Rajhi Capital has been hired to provide due-diligence and financial planning and negotiating for the proposed 10,000MT polysilicon plant and a wafer plant with an initial capacity of around 350MW to be built in Yanbu Industrial City at the Western Region of Saudi Arabia.
IPC had awarded Technip E&C with a contract for project management and engineering services related to the project in November, 2012.
In February, 2012 centrotherm photovoltaics was awarded a contract by IPC to undertake engineering design and technology development for the project.
The company expects the polysilicon plant to be operational in the fourth quarter of 2014.