Salcomp India

pending

IFC is considering a US$150 million, A loan, to Salcomp Technologies India Pvt Ltd. (“Salcomp Technologies” or the “Company”), a globally leading manufacturer of chargers, transformers, electronics assemblies, and plastic mouldings for mobile devices. The company operates under Salcomp Oyj (refer https://salcomp.com/), a wholly owned subsidiary of Lingyi iTech (Guangdong) Co., Ltd. (“Lingyi” or the “Guarantor”), a Chinese leading consumer electronic component manufacturer, listed on the Shanghai Stock Exchange since 2018.  Salcomp Technologies currently operates three facilities (ST 1, ST 2, and ST 5) in the SIPCOT Industrial Park at Sriperembudur, Chennai in India, with a fourth facility (ST 3) being constructed at the same site.The proposed project will support expansion of the company’s manufacturing capacity in the Sriperembudur campus, with the focus on ST3 and ST5 facilities. As part of the project the company will install new equipments and build new production lines, so that ST3 facility be equipped with 10 new production lines and production capacity of 180,000 pieces per day and ST5 facility will be equipped with 5 new productions lines and 20,000 pieces per day production capacity (the “Project”).