GT Advanced Technologies and Saudi Arabia-based Polysilicon Technology (PTC) have signed a US$47.7 million deal, which will see GT supply its SDR 400 reactors to PTC. The order will enhance GT’s polysilicon bookings to over US$500 million since the beginning of this fiscal year and will be included in GT’s backlog for its Q3 FY12.
The supply order is a continuation of a technology agreement that the two companies first signed in 2009. This is the first order GT has received for its reactors from a Saudi Arabia company and notes that this is currently the only active polysilicon production project in the Middle East.
The plant will be located in Jubail Industrial City, Kingdom of Saudi Arabia. The equipment is expected to begin delivery in the late half of 2012, with final deliveries completed by the end of the year.
“Making such an order reflects our clear vision, belief and commitment to this industry,” said Ibrahim Al-Humaidan, executive director of PTC. “PTC has wider plans and this major milestone embarks its onsite activities in Jubail, GT is a leader in this field with a proven track record and we are happy to be working with them and to be the first company to transfer such an advanced technology to our region.”