22 Mar '10
US firm SM Industrial Financial Group (SM IFG) intends to build a $1.4bn complex to produce polycrystalline and single-crystalline silicon for solar batteries in Rostov region, Kommersant reports.
The project is reportedly partly financed with the funds raised from bond placements at the world financial markets.
Under plans, the complex is to be built on a 140-hectare land site to the East of the town of Gukovo.
When operating at full capacity, the complex is expected to produce $1.2bn worth of goods.
Construction is scheduled to start in the Fall of 2010, with the complex to be put into commission in late 2012.