Samsung to invest RM2.2b in lithium cell plant

by **hlk** Thu 14 Jun 2012, 21:25

Samsung SDI Energy Sdn Bhd, a unit of the Samsung Group Malaysia, will invest RM2.2 billion, over five years, to

manufacture lithium ion cells and battery packs at its existing
cathode ray tubes plant here, says International Trade and Industry
Minister Datuk Seri Mustapa Mohamed.

He said the plant had already commenced operations in May and the Samsung Group has, todate, invested RM1.5 billion in Malaysia.

"This means that the Samsung Group will invest RM3.7 billion in
Malaysia, making the South Korean country the largest foreign investor
in the country.

The company currently has a workforce of 4,000 employees spread
over its operations in Negeri Sembilan and Port Klang," he told
reporters after visiting Samsung SDI Energy's lithium factory.

"A year ago when I visited Samsung Seremban, they informed me the
company was going to cease production of cathode ray tubes and instead
manufacture lithium ion cells and batteries.

"I have come today to see for myself and I am elated that Samsung
has kept its promise. They have brought in fresh investments to the
state since May and I am here to see the progress, thus far, since the
Samsung Group is the largest

investor in Malaysia," he said.

Mustapa also said Samsung SDI had the capacity to produce eight
million units of lithium ion cells and batteries per month and they
were solely for the export market.

"I hope Samsung SDI will be able to increase its production in the
future and we are optimistic Malaysia will one day emerge among the
world's largest producer of lithium ion cells and batteries," he said.

Meanwhile, 30 South Korean companies, which supply raw materials to
Samsung SDI Engineering, are currently in Malaysia to evaluate
investments opportunities here.

"We welcome them and will help them realise their investments here.
Right now, the raw materials are imported and our plan is for the raw
materials to be produced by this South Korean company in Malaysia as it
is in line with our policy to lure raw material producers to the
country," Mustapa added. -- Bernama