The International Finance Corporation (IFC), the private low -financing of the World Bank, has approved a loan of a maximum of $ 250 million for a polysilicon production facility in Oman.
Omani Company United Solar Polysilicon (FZC) SPC started the construction of the facility in March 2024. It will be built in the Sohar Freezone in North novel and will cover part of around a million square meters.
Once at full capacity, the facility can supply sufficient polysilon to produce 40 GW solar modules annually.
The investment package of IFC consists of a $ 200 million loan for the implementation of the project and a $ 50 million preferred investment, according to one revelation Published on the website of the company.
According to reports that were first published by Reuters, the financing of IFC was approved by votes, but received opposition from the American executive director of the Corporation. A spokesperson for the American Treasury told the publisher that the US will “continue to use its voice and vote at the World Bank Group, as well as at all other multilateral institutions, to pursue the first principles of America”.
Another three executive drivers in the IFC Council, which represent Germany, the Netherlands and the Alstond countries, would have abstained from the vote. The Reuters report added that United Solar Polysilicon has ties to China, partly through his chairman and founder Zhang Longgen.
The polysilicon production facility is also supported by a $ 156 million investment from Future Fund Oman, a financing mechanism checked by the sovereign Wealth Fund of Oman.
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