SOUTH KOREA'S DC CHEMICAL WINS $609USMLN POLYSILICON DEAL

DC Chemical Co. Ltd. (KSE:010060), a South Korean chemicals producer, said Thursday it had signed a 613.7 billion won ($609US million) contract with a Taiwanese silicon wafer company to supply polysilicon.

Under the contract with Sino-American Silicon Products Inc., DC Chemical will supply polysilicon from January 2010 to December 2016, an essential solar power component used for producing solar cells that convert sunlight into electricity, the Seoul-based company said in a filing to the Korea Exchange.

The latest deal follows DC Chemical's supply contracts worth $1.5 billion with two Taiwanese companies last week and a $890 million order with its affiliate earlier this week.

The single major polysilicon supplier in the country said in late June it plans to invest $1.1 billion to expand its current plants and build a new factory by December 2009 to meet rising demand.

Shares of DC Chemical were trading at 334,000 won on the Seoul bourse as of 9:45 a.m., up 3.41 per cent from Wednesday.

(Yonhap)