en.Wedoany.com Reported - The International Finance Corporation (IFC), a member of the World Bank Group, has completed a $50 million equity investment in United Solar Polysilicon, marking the final financing for the company's $1.6 billion polysilicon manufacturing plant in Sohar, Oman. Wendy Werner, the World Bank Group's Country Manager for Oman, stated that this investment is a strategic step to build a new high-value industrial sector in Oman while strengthening the global clean energy supply chain.

Werner noted that the project stands out due to its scale, job creation potential, and ability to position Oman as a key player in the renewable energy value chain. The IFC has now arranged and mobilized over 30% of the total project financing for the largest and only operational polysilicon manufacturing plant in the Middle East. The $1.6 billion facility is expected to create approximately 3,000 direct and indirect jobs, aligning closely with the World Bank Group's priorities of supporting private sector-led employment and sustainable economic growth.

United Solar Polysilicon is the largest and only operational large-scale polysilicon manufacturing plant in the Middle East. Its 100,000-ton-per-year facility in SOHAR Port and Freezone commenced production in January and is expected to reach full capacity by the end of 2026. The plant produces high-purity polysilicon, a key raw material for solar photovoltaic cells, and is expected to support the production of approximately 40 gigawatts of solar modules annually.

Werner believes that IFC's support extends far beyond financing, and this investment demonstrates Oman's ability to attract international capital into advanced manufacturing. The project helps shift Oman's economic base toward high-value manufacturing while enhancing the resilience of the global solar supply chain. The project is supported by the Oman Investment Authority through the Future Fund Oman. United Solar Polysilicon positions itself as a fully traceable supplier compliant with Foreign Entity of Concern (FEOC) requirements, serving leading global solar manufacturers. The company stated that the plant will also avoid approximately 8.8 million tons of greenhouse gas emissions annually through the global deployment of solar energy.