Leading engineering and construction company Punj Lloyd today said it has bagged an engineering, procurement and construction (EPC) contract to set up Qatar’s first plant for manufacture of polysilicon, the raw material used to build solar cells.
“The contract has been awarded by Qatar Solar Technologies (QSTec) and is scheduled to be commissioned by mid-2013,” the company said in a statement.
It added that the EPC contract awarded to the Indian conglomerate involves the establishment of 4,000 tonnes per annum (TPA) of polysilicon manufacturing capacity. The total envisaged capacity of the plant is 8,000 TPA of high-purity solar grade polysilicon at an investment of $1 billion.
However, the company did not disclose the value of the contract awarded to it.
The scope of work under the contract involves residual basic engineering and design, detailed engineering, procurement, supply, manufacturing, construction and commissioning, among other responsibilities, the statement further said.
The project site was selected with future expansion in mind and spans 1.2 million square metres of land in Ras Laffan Industrial City, in the North-East of Qatar, it further said.
“The contract will not only demonstrate Punj Lloyd’s dominant position in the global renewable energy space, but will also underline its commitment to participate in the infrastructural growth of the country (Qatar),” company President and CEO for the Middle East, Africa and CIS countries Mr Ravindra Kansal said.
Scrips of the company were being traded at Rs 53.30 apiece on the Bombay Stock Exchange at 1345 hours, up 1.43 per cent from their previous close.