KUALA LUMPUR – South Korean copper foil producer SK Nexilis will be investing RM2.3 billion to set up a manufacturing facility in Sabah, the firm’s first overseas production base.
Malaysia Investment Development Authority (Mida) in a statement said SK Nexillis is expected to construct its copper foil factory at Kota Kinabalu Industrial Park.
The factory – slated to commence construction in the first half of this year, with commercial operations estimated by 2023 – will have the capacity to produce 50,000 tonnes of copper foil per annum.
“Once in operation, the new facility will increase the firm’s production by three times its current global capacity of 100,000 tonnes.
“SK Nexillis boasts the No. 1 technology in manufacturing copper foil for batteries,” the statement said.
International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said this is one of Mida’s success stories.
“The government is pleased that a subsidiary of a Fortune 500 company has chosen Malaysia as its first investment location.
“A global leader in thin-tech innovation for copper foil manufacturing, we believe SK Nexillis’ presence here will attract more investors to complete Malaysia’s EV (electric vehicle) manufacturing supply chain network, and thus, making us a hub for high precision and high quality copper foil for niche application.”
SK Nexilis is currently in the midst of submitting its manufacturing licence to Mida. – The Vibes, January 26, 2021
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