MBM Holdings announced the formation of MBM Solar Holding, which is to build a 2500 megaton/year solar-grade polysilicon production plant in the United Arab Emirates (UAE). The plant is expected to start production in 2012. The plant will be developed jointly with ERC Private Limited Singapore, and will represent a USD 400 million investment. The plant will complement solar energy development planned in the country, such as the large solar power project in Dubai, planned by Masdar.

The new, state-of-the-art polysilicon production plant will be able to produce material for solar cell manufacture at a competitive level with Chinese and other Middle East plants being planned. MBM Holdings is hoping to provide great support with the new plant for the downstream private solar development sector in the country. Further plans include gradual increase in annual production capacity in the coming years.

[source: MBM Holdings]