Investment in this project is estimated at 8.6 trillion rials ($53.75 million) and its development is expected to take two years, IMIDRO reported on its website.
Once operational, Iran can utilize the factory’s capacity in aluminum industry and solar panel production, among others. The factory will create a considerable number of jobs and open new doors for private sector investments, the report added.
Iran’s consumption of silicon in the aluminum industry currently stands at around 5,000 tons per year.
China, the US, Norway, France and Brazil are the world’s top producers of silicon.