SolarWorld plans stake in UAE plant


19/09/2009 00:00 AST

SolarWorld, Germanys third-biggest solar company by revenue, is planning to take a stake in an polysilicon plant in the UAE, its chief executive said.

"Depending on the size of the stake, the investment could be up to $500 million," Frank Asbeck said, adding that this could be financed through equity capital and external funding.

Asbeck -- who is in the UAE as part of a German delegation around Juergen Ruettgers, the premier of North Rhine-Westphalia -- said by telephone that the decision on the plants location and the size of the stake would be decided by the end of the year.

Falling margins and overcapacities have forced German solar companies -- such as SolarWorld and Q-Cells -- to expand into new markets, most notably China and the United States, where large subsidy programmes are being implemented.

Reuters
Economic and Business News
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
EEC 22.55 41,751
ALMAL 21 1,010
DHBK 39 64,130
GFH 0.24
QNBK 168.6 125,873
DAMAC 2.42 2,694,167
RIBL 10.35 41,106
Recent News

Orpic’s 290-km long pipeline to be commissioned in 2017
Oman Oil Refineries and Petroleum Industries Company (Orpic) on Monday said that the company’s 290-km-long pipeline to connect Mina Al Fahal refinery in Muscat with its Sohar refinery, will be commi

MSM divides listed stocks into six separate sub-segments
In an attempt to club all blue chip stocks under a separate market segment, the Muscat Securities Market (MSM) has divided listed joint stock companies into six different sub-segments.

All

Bank Muscat SME push makes headway
Bank Muscat, the flagship financial services provider in the Sultanate, on Monday (29 September 2016) marked a new session of al Wathbah Academy in Muscat as part of its ‘Let’s Do More’ vision and co

Oman-China JV to invest RO 84m in four retail hubs
An agreement is due to be signed here tomorrow for the establishment of a network of four shopping and commercial hubs in key locations around the Sultanate. Total investment in the four centres, wh

Global currency traders can’t lose as strategies reap positive returns
Everyone’s a winner in the $5.3tn-a-day global currency market this year. For just the second time in the past decade, three major foreign-exchange trading strategies are all producing positive retu

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?