EghtesadOnline: Chairman of Iranian Mines and Mining Industries Development and Renovation Organization Khodadad Gharibpour and a private sector consortium on March 16 signed a memorandum of understanding for the establishment of Iran’s first silicon production factory.
Investment in this project is estimated at 8.6 trillion rials ($53.75 million) and its development is expected to take two years, IMIDRO reported on its website.
Once operational, Iran can utilize the factory’s capacity in aluminum industry and solar panel production, among others. The factory will create a considerable number of jobs and open new doors for private sector investments, the report added.
According to Financial Tribune, Iran’s consumption of silicon in the aluminum industry currently stands at around 5,000 tons per year.
China, the US, Norway, France and Brazil are the world’s top producers of silicon.