PROJECT

Projects

Summary of Investment Information

Project Number

46728

Company Name

SK HI-TECH BATTERY MATERIALS POLAND SP.Z O.O

Date SPI Disclosed

May 26, 2023

Country

Poland

Region

Europe

Projected Board Date

Apr 5, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jun 25, 2023

Department

Regional Industry MAS LAC & EUR

Industry

Manufacturing

Previous Events

Approved : Apr 19, 2023
Signed : May 23, 2023
Invested : Jun 23, 2023

Sector

Electrical Machinery, Equipment and Components (Electric Lighting, Motors, Batteries, Insulated Wires and Cables, Fiber Optic Cable, Carbon and Graphite Products, etc.)

Project Description

 The proposed IFC investment involves a 7 year senior loan of up to $300 million to SK hi-tech battery materials Poland sp. zo.o. (“SK Poland”), comprising (i) an A loan of between US$150 million and US$200 million (but no more than US$200 million) for IFC’s own account; and (ii) a syndicated loan of between US$100 million and US$150 million (but no more than US$150 million). SK Poland is the Polish subsidiary of SK ie technology Co. Ltd (“SKIET” or the “Company”), a manufacturer of lithium-ion battery separators (“LiBS”), a key component of batteries used in electric vehicles (EVs). Currently, SKIET has a total LiBS manufacturing capacity of 1.53bn square meters (sqm) across 4 production facilities in 3 countries, i.e. South Korea, China and Poland. SKIET is listed on the Korea Stock Exchange since May 2021 with a market capitalization of US$3.5 billion equivalent (as of March 13, 2023).

IFC’s investment will support the on-going construction and expansion of SK Poland’s production facility in Dabrowa Górnicza, Poland to meet the fast-growing demand for electric vehicles batteries in Europe (the “Project”).

 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation