GT Solar in $336m Malaysia deal

GT Advanced Technologies says it has signed a $336m agreement with Cosmos Chemicals Berhad to provide equipment and technology for a 25,000 metric ton per year polysilicon facility in Malaysia.

GT will supply its complete suite of polysilicon production equipment and technology including engineering services, hydrochlorination, SDR CVD reactors, filament production, and polysilicon processing.

The plant, to be located in Sarawak, Malaysia, is sponsored by Saudi Arabia-based Project Management & Development Company (PMD).

The deal is contingent on Cosmos Chemicals finalizing project financing.

GT expects the project to commence in phases beginning with the commissioning of engineering work followed by an equipment order.

"The polysilicon market is improving with spot prices on the rise and supply and demand coming into balance. This is a good time to begin construction of a new plant so that it comes online timed to rising prices.” Says Dave Keck, executive vice president of GT’s solar business.