SK Nexilis, an investment company for copper foil for electric vehicle batteries of SKC, signed a land lease contract with the Malaysian authorities to establish the first overseas production base for the copper foil business.
SKC announced that President Lee Wan-jae attended the MOU on site rental business held at the KKIP Industrial Complex in Kota Kinabalu City, Sabah, Malaysia this afternoon.
The on-site event was attended by Malaysian Prime Minister Muhidin Yashin, Governor Hajiji Nord Sabah, SK Nexilis CEO Kim Young-tae, SKC BM Innovation Promotion Manager Kim Jong-woo, and SK Nexilis Global Expansion Headquarters Shin Dong-hwan.
President Lee Wan-jae told Prime Minister Muhidin Yashin, “This investment marks the beginning of global growth and securing absolute competitiveness in the SKC copper foil business.” I will do my best.”
The two sides decided to immediately sign a contract with SK Nexilis Malaysia to lease about 400,000 square meters of land within the KKIP Industrial Complex for 30 years.
Kota Kinabalu, Malaysia, which will be the first overseas production base for SKC’s copper foil business, has ports and international airports necessary for export, and has excellent infrastructure such as gas and water. It is explained that it is advantageous in implementing RE100 (using 100% of the power used as renewable energy) because the power cost is low and the supply is stable.
The company will invest about 700 billion won here to begin construction of a production base of 50,000 tons per year. When commercial operation begins in 2023, the production capacity of copper foil for secondary batteries is expected to increase to 102,000 tons, three times the current 34,000 tons.
SKC and SK Nexilis aim to increase copper foil production capacity by more than five times by 2025. To this end, it is also considering follow-up investment in Malaysia, Europe and the United States.
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A company official said, “We will materialize the investment plan within this year,” and said, “We will implement RE100 in all subsequent investment areas in order to proactively respond to customer requests while practicing ESG management.
“In order to respond to the increase in demand for high-quality battery foil, SK Nexilis’ Jeongeup Plant has been maintaining the operation rate at 100% since last year, and we are striving to speed up the operation of the 5th plant under construction. We will expand to scale and become a leading global copper foil manufacturer by considering implementation of RE100 first.”