SK IET Poland

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SK hi-tech battery materials Poland sp. z o.o. (“SK Poland” or the “Company”), is a subsidiary of SK ie technology Co. Ltd (“SKIET” or the “Guarantor”, http://eng.skietechnology.com/), an entity of the South Korean conglomerate “SK Group” active in the energy, petrochemicals, mobile telecommunications, e-mobility batteries, and electronic materials industries. Established in April 2019, SKIET manufactures lithium-ion battery separators (“LiBS”), a key component of batteries used in for electric vehicles (EVs). Currently, SKIET has a total LiBS manufacturing capacity of 1.53 billion  square meters (sqm) across 4 production facilities in 3 countries, namely, South Korea, China and Poland.  The proposed IFC investment is a $300 million green financing package to 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), to finance the expansion of the lithium-ion battery separator (“LiBS”) production facility in Poland (the “Project”).Since October 2021, the Company operates a LiBS plant in Dabrowa G?rnicza with an annual production capacity currently at 340 million m2. The Project will contribute to the increase in the Company’s LiBS production capacity, which is expected to reach 1.54 billion square meters (sqm) in total by 2024.