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[Alpha Biz= Reporter Kim Jisun] OCI Holdings will invest up to 2 trillion won in expanding its solar polysilicon plant in Sarawak, Malaysia. Production products will also be expanded from polysilicon for solar energy to polysilicon for semiconductors.
OCI Holdings announced on the 23rd that it signed a memorandum of understanding (MOU) with the Malaysian government at the KL20 Summit 2024 in Kuala Lumpur on the 22nd.
OCI Holdings will invest 850 billion won in Malaysia by 2027 to increase the production of solar polysilicon for local company OCIM from 30,000 5000t to 50,000 6600t per year. Separately, OCI plans to produce polysilicon for semiconductors through a joint venture with global companies. This will result in up to 2 trillion won in investment, OCI explained.
The Malaysian government is offering exceptional benefits to attract foreign companies. Foreign companies that build factories will be exempted from corporate taxes for 10 years, and the period of corporate tax reduction will be extended if they expand. Electricity is supplied at less than half the price of Korea. Thanks to this, OCIM posted operating profit of 531 billion won last year despite China's low-cost offensive.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
