According to Mohammad Seraf, director of the Egyptian Center for Advanced Studies and former professor at Drexel University in the United States, Egypt's Sinai and Western Desert regions have the highest quality silica. Egypt will carry out advanced silicon technology projects and apply it to the solar, communications and electronics industries. It is estimated that the project will cost 12 billion Egyptian pounds (2 billion U.S. dollars). The project will conduct initial public offerings for Egyptian citizens abroad, with a value of EGP 1,000 per share. The project will also select some companies to form a joint-stock company with a value of 10 million Egyptian pounds.
The silicon technology project can be completed within 7 years after construction and productivity will reach 100% after 10 years. After the project was over, Egypt’s competitiveness in licensing silicon technology was comparable to that of developed countries such as Singapore, India and China.
It is estimated that by 2020, Egyptian new energy produced using silicon technology will account for 20% of total energy production.
The Egyptian Industrial Development Authority will discuss the details of the project next week (May 20-26, 2012) and announce the start time. (Editor: Wang Chaolan Ji Weihong)
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