SK IET Poland

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 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”).