OCI Holdings Signs Long-Term U.S. Contracts, Doubles Polysilicon Capacity to 70,000 Tons by 2029

According to Maeil Business Newspaper, OCI Holdings signed long-term supply contracts with new U.S. customers on July 24, announcing plans to double its polysilicon production capacity from 35,000 tons to 70,000 tons by 2029. The company also plans to expand wafer production at its Vietnam subsidiary to 11.5 GW by 2029, representing a 3.3-fold increase from 2.7 GW in 2026.

Securities analysts raised price targets following the announcement. Mirae Asset Securities upgraded its target price to 460,000 Korean won from 320,000, while Hana Securities set the highest target at 550,000 won. All long-term contracts include take-or-pay terms, guaranteeing high earnings visibility through 2029.