Alphabiz - OCI Holdings Enters Solar Wafer Business with $120 Million Investment in Vietnam Plant

[Alpha Biz= Paul Lee] Seoul, October 13 — OCI Holdings announced on Sunday that it will officially enter the solar wafer business through its wholly owned subsidiary OCI TerraSus, which has established a special-purpose entity (SPE) named OCI ONE in Singapore.


OCI ONE will acquire a 65% stake in a Vietnam-based solar wafer plant owned by a global solar company, with the transaction valued at approximately $78 million (₩110 billion) out of a total $120 million (₩170 billion) investment. The plant, which has an annual capacity of 2.7 gigawatts (GW), is set for completion later this month.


After pilot operations, production is expected to begin early next year, supplying solar wafers compliant with U.S. Prohibited Foreign Entity (PFE) regulations — a move that allows OCI to bypass U.S. import restrictions tied to certain foreign supply chains.


The facility also has expansion potential: with an additional $40 million (₩56 billion) investment, its capacity can be doubled to 5.4 GW within six months.


OCI Holdings plans to use OCI TerraSus’s polysilicon exclusively in wafer production, creating a fully integrated supply chain that strengthens its competitive positioning and enhances profitability.


An OCI Holdings spokesperson stated, “This investment enables OCI to establish a vertically integrated solar materials value chain — from polysilicon to wafers — while ensuring regulatory compliance and operational independence in key markets.”

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)