RM6bil battery factory coming up - MIDA | Malaysian Investment Development Authority
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RM6bil battery factory coming up

RM6bil battery factory coming up

12 Dec 2023

BATTERY manufacturer INV New Material Technology (M) Sdn Bhd will invest RM6.4bil to set up its first-ever manufacturing plant in Penang.

The project at Penang Technology Park@Bertam in Kepala Batas will be overseen by its parent company Shenzhen Senior Technology Material Co Ltd, which is globally renowned for its lithium battery separators.

INV New Material Technology chairman Chen Xiufeng said the new plant would be the first lithium separator factory in the Asean region and that it would be completed in two phases in 2026 and 2028.

“Once operational, the plant will produce four billion square metres of coated and wet-type separators annually,” he told Buletin Mutiara during a recent groundbreaking ceremony.

Chen also provided insight into the magnitude of the project.

“Spanning 26.7ha with a total building area of approximately 400,000sq m, it is poised to become the largest production base for low-carbon separators in Asean and a key player in the global supply chain for the industry.

“As a leading enterprise in the separator industry, we will further intensify our efforts in developing the Asean market,” he said.

Penang Chief Minister Chow Kon Yeow, who officiated at the ceremony, congratulated INV and Shenzhen Senior Technology Material on the project.

He said Penang was honoured to be chosen as the location for INV’s plant as it highlighted the state’s well-developed industrial ecosystem.

“The Penang government is focused on attracting companies which are committed to developing cutting-edge technologies and sustainable investing.

“The lithium-ion battery separator industry, with its ties to renewable energy, aligns perfectly with our goal for a greener and more sustainable future,” said Chow, who also commended INV for its commitment to environmental responsibility.

He concluded with an assurance of continuous facilitation and support for strategic investments in both state-developed and private industrial parks.

“We remain dedicated to developing future-proof infrastructure and ramping up the talent supply.

“All this will ensure a sustainable investment ecosystem in Penang,” the Chief Minister added.

Also at the groundbreaking ceremony were Chinese consul-general in Penang Zhou Youbin, Seberang Prai City Council mayor Datuk Azhar Arshad, InvestPenang chief executive officer Datuk Loo Lee Lian, Penang Malaysian Investment Development Authority director Muhammad Ghaddaffi Sardar Mohamed and deputy chief executive officer Sivasuriyamoothy Sundara Raja.

Source: The Star