03.12.2010 - Seoul, Korea
December 3rd, 2010, Mutajadedah Energy Company (“MEC”) and KCC Corporation of Korea (“KCC”) signed a Joint Venture Agreement to invest in building a 3,000 tons/year solar grade polysilicon plant in Jubail, Saudi Arabia.

KCC is Korea’s leading manufacturer of industrial paints, building materials, glass, PVC and silicones, polysilicon products. MEC is a local Saudi company jointly owned by Chemical Development Company (“CDC”) and Swicorp Jouusour (“Jousssour”). This project will be the first of its kind in the Middle East region and the beginning of a series of investments CDC and Joussour intends to carryout in the photovoltaic sector.

Signing Ceremony