The German solar panel manufacturer Solarworld said on March 1 it will invest in the Arabian peninsula's first silicon plant, along with two local companies in Qatar.

Solarworld, Qatar Foundation and the Qatar Development Bank have created a joint enterprise that will invest $500 million dollars in a site in northeastern Qatar designed to produce 3,600 tons of silicon per year.

The German group will own a stake of 29% and the foundation 70%, a statement said.

Production was forecast to begin in the third quarter of 2012.

Copyright Agence France-Presse, 2010