ewpartners, an equity firm based in Riyadh, has announced a multimillion-dollar investment in a polysilicon project in Oman. The project, located in Sohar Freezone, is being developed by United Solar Polysilicon (FZC) SPC. The plant is expected to have a production capacity of 100,000 tonnes per year and will cost approximately $1.6 billion.
The Oman Investment Authority (OIA) is backing the project through its Future Fund Oman (FFO) with a $156 million investment announced last month. The facility will produce polysilicon, a key material used in manufacturing solar cells and microchips, supporting renewable energy and technological growth in the region.
Construction of the plant is progressing quickly. Equipment for the project continues to arrive at Sohar Freezone from international suppliers, mainly from China. Recently, the Han Hang Dajian, a specialized cargo ship, delivered several hundred tonnes of equipment to the site.
ewpartners’ investment aligns with its focus on energy transition and related supply chains. The company has previously worked with wealth funds like Saudi Arabia’s Public Investment Fund to support renewable energy and technology-driven initiatives. This project reflects broader efforts in the Gulf region to reduce dependency on oil and gas and expand renewable energy industries.
ewpartners and the Oman Investment Authority have also strengthened their collaboration in recent months. In October, OIA committed $150 million to ewpartners’ Technology Innovation Fund II, a $1 billion fund supporting technology-enabled investments in the GCC. The two entities have also agreed to establish a local fund to support Oman’s National Vision 2040. This partnership will focus on sectors like renewable energy, advanced manufacturing, ICT, logistics, and agriculture.
The polysilicon plant at Sohar Freezone is expected to play an important role in Oman’s renewable energy goals and in supporting the region’s growing solar energy market.
