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 | OCT | NOV
Most Viewed Companies
Ticker Price Volume
EMAAR 11.35 129,229,709
SABIC 98.6 8,719,564
ALKHODARI 52.75 3,958,353
RIBL 18.68 959,872
EEC 53.77 6,363,443
NCB 62.42 9,969,767
TAWUNIYA 59.36 915,445
Recent News

Mobily upgrades the cable networks in Jeddah and Alkhobar
Mobily has upgraded the cable networks of its cable landing stations at Jeddah and Alkhobar. These landing stations connect the Gulf to the TGN subsea Cable System, operated by Tata Communications,

SABIC: Firms must innovate to compete, stay ahead of change
In the current economic environment, success is expected to come to only those companies that generate innovative products, services, processes and business models to gain competitive advantage, Moha

Woqod purchases $6m bitumen tanker
Qatar Fuel (Woqod) yesterday announced the purchase of a bitumen tanker (vessel) with modern specifications from China for $6m (about QR22m), according to a press statement.

The Double Hul

KSA masterbatch demand buoyant till ’19
High investments in petrochemical sector, easy availability of raw material and significant growth across major end user industries are set to buoy masterbatch demand in Saudi Arabia from 2014 to 201

Council of Saudi Chambers in drive to promote SMEs
The Council of Saudi Chambers (CSC) has launched a training program on small and medium enterprises (SMEs) for its officials from various chambers in the Kingdom.

CSC Secretary General Khali

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?