Saudi Arabian firm Project Management & Development Company Co. Ltd (PMD) has contracted its Kuala Lumpur affiliate Cosmos Petroleum & Mining Sdn Bhd to own and operate the plant when production starts. The polysilicon manufactured will be used in PV production.
The plant is expected to be one of the biggest in Asia once completed. PMD chairman Majed Al-Ahmadi added that the project is in line with Sarawak's initiative of promoting green and sustainable energy solutions, leading to further development of industrial base in the state.
The Malaysian unit of National Bank of Abu Dhabi, which opened last October, has been engaged to raise funds for the project. The project is expected to draw investment from the Middle East and Southeast Asia according to the bank.
"This is our largest mandate for project finance to-date. The $1.6 billion will be a mixture of debt and equity," stated Leong See Meng, chief executive of National Bank of Abu Dhabi, Malaysia.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.