World Bank Group’s IFC, OCI Terrasus team Up To Advance Malaysia’s Semiconductor Push
KUALA LUMPUR, March 30 (Bernama) -- The World Bank Group, via its private-sector arm the International Finance Corporation (IFC), has partnered with OCI TerraSus Sdn Bhd (OCI TRS), a unit of South Korea’s OCI Holdings Company Ltd, to advance Malaysia’s participation in the global semiconductor supply chain and create jobs in the country.
They said the partnership would also drive enhancements in IFC’s environmental, social, and governance (ESG) standards and management systems.
“Central to this collaboration is the development of a clean energy-powered manufacturing facility for ultra-high purity semiconductor-grade polysilicon in Bintulu, Sarawak, through a joint venture with Japan’s Tokuyama Corporation.
“Through this partnership with IFC and expansion in the global semiconductor supply chain, OCI TRS targets active enhancements to its corporate governance and management systems, ESG capabilities, technical advancements, competitiveness and long-term resilience,” they said in a joint statement.
They said that under this collaboration, IFC will provide OCI TRS with a loan facility of up to US$125 million (US$1=RM4.01), which will primarily be used to construct the state-of-the-art manufacturing facility, the first of its kind in Southeast Asia.
OCI Holdings and OCI TerraSus chairman Lee Woo Hyun said the partnership is a key driver in strengthening management systems, ESG practices and long-term competitiveness as a global company.
“As demand grows for semiconductors and artificial intelligence, the importance of high-purity materials will continue to increase,” he said.
World Bank Group country manager for Malaysia Judith Green said Malaysia has significant ambitions to move up the value chain in value-added manufacturing industries, which are major job creators, making them a key area of focus for the group.
“We are delighted to support the country towards fulfilling these ambitions. We are also encouraged by OCI TerraSus’ commitment to strengthening its ESG standards, and look forward to supporting the company in achieving its commitments,” she said.
-- BERNAMA