OCI to spend 1 tln won on third polysilicon plant

SEOUL, Dec. 8 (Yonhap) -- OCI Co., a South Korean chemicals producer, said Tuesday that it plans to spend 1 trillion won (US$840 million) on building a polysilicon-producing plant, the third of its kind, to meet growing demand for the material.

The plant, to be constructed in Gunsan, 274 kilometers southwest of Seoul, by
December next year, will have an annual capacity of 10,000 tons of polysilicon,
an essential raw material for solar cells that convert sunlight into electricity,
according to the company.
The company started the construction of the plant in July last year, but its
completion was delayed in the wake of the economic downturn caused by the
collapse of Lehman Brothers in September.
The completion of the third plant will boost OCI's annual production capacity to
27,000 tons.
OCI, formerly known as DC Chemical Co., completed its second plant for the
production of polysilicon in July this year which produces 10,500 tons of
polysilicon annually.
The company has been operating its first polysilicon plant with a capacity of
6,500 tons a year since 2007.
Shares of OCI were trading at 219,000 won on the Seoul bourse as of 1:29 p.m., up
3.07 percent.
sam@yna.co.kr
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