As a result of the agreement, US-based REC Silicon has entered into negotiations with the Saudi government and Saudi Aramco, REC Silicon chief executive Tore Torvund announced on Tuesday.
REC Silicon, which was spun off of Norway’s REC Group last year, and does its polysilicon manufacturing in the US, expects an investment decision to be taken in 2016.
The agreement would see REC Silicon holding a 25% equity stake in the Saudi joint venture, IDEA International holding a 25% stake, and the Saudi government owning the remaining 50%.
REC
