Singapore’s Indorama wants to set up a silicon facility for manufacturing solar panels in Egypt

Indorama has a plan or two for Egypt: Singapore-based chemical company Indorama has submitted a proposal to Egypt to establish two separate facilities to produce phosphate fertilizers and silicon necessary to manufacture solar panels, according to a statement.

Details are still scant: Egyptian Planning Minister Hala El Said said Indorama plans to pour USD 700 mn in investments in the two facilities, the statement notes. The plants’ output will be directed to exports, she said, adding that Indorama has expressed readiness to enter into partnerships with existing projects in the country. Raw materials and plots necessary for the two projects’ establishment are available, Oil Minister Tarek El Molla said.

We have been expecting this: The Singaporian chemicals outfit signed an MoU with the Sovereign Fund of Egypt last month to explore options in several sectors, including fertilizer production, phosphate extraction, renewable energy, and medical fibers.