Invest KOREA

OCI Co., South Korea's leading maker of polysilicon, said Friday that it has received a polysilicon order worth 570 billion won (US$506 million) from a Taiwanese firm.

   Under the deal with Green Energy Technology Inc., OCI will supply the material used in solar panels by 2018, the company said in a regulatory filing.

   Earlier this week, OCI won a 480 billion won deal from a Chinese firm.

   Shares of OCI were trading at 420,000 won on the Seoul bourse as of 9:05 a.m., up 1.1 percent.

   Last month, OCI won around 1.3 trillion won worth of orders to supply polysilicon to customers, including China's Yingli Green Energy.

   In December last year, OCI said it plans to spend 1.9 trillion won over the next two years to expand its polysilicon output by 27,000 tons.

   When its work on plant expansion is completed, OCI's annual capacity will rise to 62,000 tons by 2012, it said.

   Polysilicon prices in the spot market have hovered around $75 per kilogram in March, near the high of $80 seen in November because of demand from Europe.

Source: Yonhap News (March 11, 2011)