United Solar: A Key Catalyst for Diversifying Oman’s Investment Landscape and Business Growth
MUSCAT, JULY 8 — The International Finance Corporation (IFC) regards its investment in United Solar Polysilicon’s $1.6 billion manufacturing facility in Suhar as a pivotal move to establish a new high-value industrial sector in Oman while enhancing the global clean energy supply chain, a senior official from the World Bank Group stated.
In an exclusive interview with the Observer, Wendy Werner, World Bank Group Country Manager for Oman, highlighted the project’s significance due to its scale, job creation potential, and its role in positioning Oman as a key player in the renewable energy value chain.
The remarks come after IFC finalized a $50 million equity investment in United Solar, marking the last tranche of the company’s $1.6 billion capital raise. IFC has facilitated and mobilized over 30 percent of the total financing for the Middle East’s largest and only operational polysilicon manufacturing plant.
Werner emphasized, “Because of its scale and potential, this $1.6 billion facility is large enough to anchor an entirely new industry in Oman, supporting the country’s vision.”
The project is projected to create approximately 3,000 direct and indirect jobs, aligning closely with the World Bank Group’s objectives of promoting private sector-led employment and sustainable economic growth.
She noted, “United Solar is the Middle East’s only operational, large-scale polysilicon manufacturing facility, establishing Oman as a high-technology, critical link in the renewable energy supply chain. This positions it as a key private sector driver of quality employment in the region.”
United Solar’s facility, which has a production capacity of 100,000 tonnes per year, began operations in January at SOHAR Port and Freezone and aims to reach full production by the end of 2026. The plant manufactures high-purity polysilicon, an essential raw material for solar photovoltaic cells, and is expected to support the production of about 40 gigawatts of solar modules annually.
Werner stressed that IFC’s involvement goes beyond financing, underscoring the investment as proof of Oman’s capacity to attract international capital into advanced manufacturing sectors.
“This project is a proof point that Oman can compete for global capital and integrate into industries of the future,” she said.
She added that hosting the region’s largest polysilicon plant in Oman helps transition the nation’s economy towards high-value manufacturing and enhances the robustness of the global solar supply chain.
“A project of this scale diversifies the geographical base of the solar supply chain, securing Oman’s foothold in the industry’s growth, improving global supply chain resilience, and enhancing the traceability of polysilicon,” Werner explained.
The project is supported by the Oman Investment Authority through Future Fund Oman. United Solar is committed to being a fully traceable, Foreign Entity of Concern (FEOC)-compliant supplier to top global solar manufacturers. The facility is also anticipated to help prevent an estimated 8.8 million tonnes of greenhouse gas emissions annually by facilitating the global deployment of solar energy.
تحليل خاص من عمانت | تصفح سوق عُمان
The establishment of the Middle East’s largest polysilicon manufacturing facility in Oman signals a transformational shift towards high-value industrial diversification and clean energy leadershipبالنسبة للشركات والمستثمرين، هذا يخلق a strategic opportunity to engage with a rapidly growing renewable energy supply chain and benefit from increased employment and international capital inflows. Smart entrepreneurs should consider leveraging this momentum to develop complementary industries and innovate within Oman’s emerging green economy to maximize long-term competitive advantage.
