On October 13, OCI Holding, South Korea's leading polysilicon producer, announced its intention to expand the layout of photovoltaic silicon wafers by acquiring 65% of a silicon wafer factory in Vietnam.
The company, through its subsidiary OCI TerraSus, has set up a special purpose vehicle (SPV), OCI ONE, in Singapore to acquire a 65% stake in a 2.7 GW silicon wafer factory in Vietnam .
The Vietnamese silicon wafer factory, which was built by Elite Solar Power Wafer Co. Ltd. (Boda Xinneng), is expected to be completed by the end of October. On May 19, 2022, the signing ceremony of the company's 5G W silicon wafer project was held in Vietnam,
according to the official micro of Boda Xinneng. The 5GW silicon wafer project has a total investment of 600 million US dollars, and the first phase of 2GW production capacity is scheduled to be put into operation in March 2023. "The total investment of the project amounts to 120 million US dollars (about 857 million RMB), of which the corresponding investment of OCI ONE's equity is 78 million US dollars,
" OCI said. With an additional investment of $40 million, the plant will be expanded to 5.4G W in six months , which is expected to more than double revenue in the short term.
In addition, OCI also revealed that the polysilicon materials used in Vietnam's silicon wafer plant will be provided entirely by OCI TerraSus.
"This strategic investment brings us closer to building a supply chain conducive to exports to the United States.". We will continue to strengthen our position in the global solar market by building partnerships with local companies in Southeast Asia. OCI Holding Chairman Woo Hyun Lee said.
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