SolarWorld plans stake in UAE plant


19/09/2009 00:00 AST  Reuters

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.

Economic and Business News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP
Most Viewed Companies
Ticker Price Volume
EMAAR 11.6 60,373,531
MESC 20.32 1,643,459
ALKHODARI 63.98 978,296
RIBL 21.6 469,326
SAGRINSURANCE 49.47 507,514
WALAA 35.74 4,511,086
SPIMACO 52.36 328,340
Recent News

Saudi return on buildings to rise sharply until 2022
RIYADH – The return on buildings as a proportion of GDP in Saudi Arabia is one of the lowest among major economies but should rise sharply in the years to 2022, the annual MEED Saudi Mega Transport &

Mobily unveils fund program for Ensan
RIYADH – Mobily, in collaboration with the Orphanage Society (Ensan), launched the new digital album (Orphans Love) in the voice of Sheikh Mishary Al Afasy and the words of the poet Hamid Zaid. The

NCB Capital launches new Alahli Tadawul
JEDDAH –- NCB Capital, one of the largest Brokerage Service providers in the Kingdom, GCC’s leading wealth manager and the Kingdom’s largest asset manager, has introduced the new AlAhli Tadawul servi

Zain KSA embarks on customer care program
ZAIN KSA has launched its interactive customer care program which enables customers to participate in honoring and motivating customer care employees by their assessment when contacting the customer

GCC economies remain resilient despite low oil prices:Prince Abdulaziz
RIYADH – Prince Abdulaziz Bin Salman Bin Abdulaziz, Assistant Minister of Petroleum and Mineral Resources for Petroleum Affairs, dismissed arguments that lower oil prices will cause the collapse of G

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

Poll

Which of the following do you think is the best long-term investment?