GT Advanced Technologies announces $47.7 million order from Middle East
Merrimack - GT Advanced Technologies announced that it has received a $47.7 million order for polysilicon production equipment and technology from Polysilicon Technology Company (PTC), a company based in the Kingdom of Saudi Arabia.
The order is GT's first from a company based in Saudi Arabia and is the only active polysilicon production project in the Middle East at this time. The new contract continues a technology agreement with PTC that was first signed in 2009. The plant will be located in Jubail Industrial City, Kingdom of Saudi Arabia. Delivery of equipment is expected to begin in the latter half of 2012 with completion scheduled for the end of the year. "Making such an order reflects our clear vision, belief and commitment to this industry," said Ibrahim Al-Humaidan, executive director of PTC. "PTC has wider plans and this major milestone embarks its onsite activities in Jubail, GT is a leader in this field with a proven track record and we are happy to be working with them and to be the first company to transfer such an advanced technology to our region."
Source: IWR Online, 31 Oct 2011