KUALA LUMPUR, Jan 27 -- South Korean copper foil producer for electric vehicle (EV) battery, SK Nexilis is investing 650 billion Korean won (RM2.3 billion) for its first overseas production plant, to be based in the KKIP Industrial Complex, Kota Kinabalu, Sabah.
The company said the proposed copper foil manufacturing facility will have an annual production capacity of 50,000 tonnes, and the construction will tentatively begin in the first half of 2021, with commercial operations to start by 2023.
“The new facility will increase SK Nexilis' copper foil production capacity by three times its current global capacity, to about 100,000 tonnes,” it said in a statement.
According to the statement, International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said that SK Nexilis’ presence will attract more investors to complete Malaysia’s EV battery manufacturing supply chain network, making Malaysia a hub for high precision and high-quality copper foil for niche applications.
“Indeed, this investment will also boost Malaysia’s talent network and capabilities through initiatives with domestic universities and technical institutes.
“Despite the ongoing pandemic, the Malaysian Investment Development Authority (MIDA) continues to draw high technology investment such as these into the country to provide tangible opportunities for innovation and local supply chain development,” he said.
-- BERNAMA
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