OCI, Tokuyama pushing for polysilicon joint venture in Malaysia
SEOUL, May 24 (Yonhap) -- OCI Co., a South Korean chemicals manufacturer, said Wednesday it is pushing to set up a joint venture with Japan's Tokuyama Corp. for polysilicon production in Malaysia.
OCI's board approved the memorandum of understanding, signed with the Japanese chemical company, to build a manufacturing facility for half-finished polysilicon products for use in semiconductors, according to OCI.
The facility will be built in the industrial area of Samalaju in the Southeast Asian country, with an aim to produce 11,000 tons a year.
OCI and Tokuyama plan to sign a binding agreement next month for the project, with an eye to launch the joint venture in the first half of next year.
OCI will import the half-finished products produced from the Malaysia factory and process them into finished products at its domestic plant in Gunsan, 178 kilometers southwest of Seoul.
The manufacturer produces about 4,700 tons of finished products at its Gunsan facility, and it is planning an expansion to handle the post-processing demand, the company said.
OCI spun off its chemical division as a separate affiliate under OCI Holdings Co. in a bid to bolster its advanced materials business. The new OCI focuses on the chip and battery materials sectors, with an emphasis on silicon wafers.
Yoon gov't unveils National Security Strategy highlighting N.K. threat
(LEAD) S. Korea wins seat on U.N. Security Council for 2024-25
S. Korea expresses 'stern' protest to China, Russia over air defense zone incursion
4 Chinese, 4 Russian military planes enter S. Korea's air defense zone without notice: S. Korean military
(LEAD) 4 Chinese, 4 Russian military planes enter S. Korea's air defense zone without notice: S. Korean military