Hanwha spends US$955 million on polysilicon plant in South Korea

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Hanwha Chemical is planning to spend KRW1.04 trillion (US$955 million) on a new polysilicon plant to help double sales over the next five years, reports Bloomberg. When construction is completed in July 2013, the Yeosu plant will have the capacity to produce 10,000 metric tonnes of polysilicon a year.

“By advancing to the business of producing polysilicon, Hanwha Group could achieve a complete, vertical integration of solar-related businesses, from poly-silicon to ingots, wafer, solar cells and modules. This will allow the group to attain strong global competitiveness in the field,’’ a Hanwha spokesperson said. “Polysilicon is a key material for producing solar cells. The ability to self-provide our demand for polysilicon will give us a key advantage in stability and cost competitiveness and make us less vulnerable to market cycles.’’

Hanwha claim the proposed polysilicon plant in Yeosu will generate sales totalling in excess of KRW500 billion (US$4.6 million) in 2014.

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