Dow Corning has denied a report that the company planned to establish a $1 billion silicon plant in the Middle East.

The company has no current plans to build a manufacturing facility in the Middle East, however it has established a Middle East headquarters and commercial entity in Bahrain last week, a company statement said.

Dow Corning was reacting to a Reuters report yesterday, which said the US-based firm was planning to build a new silicon manufacturing plant in the Middle East, its fourth worldwide, with a value that will exceed $1 billion.

Dow Corning is one of the largest silicon manufacturers in the world, with plants in the United States, Britain and China.

Silicon is used in a wide range of industries including textiles, real estate construction, makeup products and the auto industry. - TradeArabia News Service