OCI Holdings said on the 30th that its Malaysian subsidiary OCI Terasys has secured investment from the International Finance Corporation (IFC) for the OTSM semiconductor joint venture project.
The OTSM project is a joint venture established with a 50% equity split between OCI Terasys and the Japanese chemical specialist Tokuyama. With this investment, it has secured a total project budget of $125 million (about 190 billion won). The funds will be used for building a semiconductor-grade polysilicon plant and for operating capital.
IFC, an institution under the World Bank Group, is an international financial organization that supports private corporations to promote economic development in developing countries. It decides whether to invest by comprehensively considering not only a corporation's growth potential but also ESG (environmental, social, and governance) management and compliance indicators.
An OCI Holdings official said, "It is a highly meaningful achievement that OCI Terasys met IFC's rigorous screening standards and was selected as the first corporation to attract investment in Sarawak State, Malaysia," adding, "With this investment, not only the strong business viability of the semiconductor business but also our ESG growth strategy and execution capabilities have been internationally recognized, and we will continue to strengthen sustainable management that meets global standards."