SR338m Al-Afandi Factory for Solar Panels to rise in Yanbu

JEDDAH — The Royal Commission at Yanbu has signed a contract to construct and operate Al-Afandi Factory for Solar Panels at Madinat Yanbu Al-Sinaiyah. Dr. Alaa Nassif, Chief Executive Officer for Royal Commission at Yanbu and  Ibrahim Muhammed Ali Al-Afandi, Chairman, Board of Directors of the Company, executed the said contract. The factory is one of vital industrial projects in the field of renewable energy. Dr. Alaa Nassif said the Royal Commission works hard and constantly to attract the investments which reinforce Kingdom’s trends and offer facilities to all its investors. He added that the project helps in nationalizing the industries associated with renewable energy. The Kingdom targets such energy as a part of its program aiming at utilizing renewable energy in meeting the increasing demand of energy. The Royal Commission at Yanbu cooperates with King Abdullah City for Renewable Energy to reinforce nationalization of renewable energy related industries. Both parties have recently signed a joint cooperation agreement to prepare a feasibility study on construction and operation of a Solar Energy Station at Madinat Yanbu Al-Sinaiyah with a capacity of 50 Megawatt. Al-Afandi Factory is expected to be operational by 2017. It shall fulfill the market requirements of solar cells through a production capacity of 7,900 ton/year. The project will be built on an area of 55,472 square meters with an investment amount of SR338 million. — SG