Ecopro EM invests 180 billion KRW in Yeongilman 4 Industrial Complex... Establishes a production plant with an annual capacity of 31,000 tons
On October 21st, visitors are touring the Samsung SDI booth at the battery industry exhibition 'InterBattery 2020' held at COEX in Seoul. Photo by Hyunmin Kim kimhyun81@
[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Gyeongsangbuk-do announced that on the 18th at 2:20 PM, a groundbreaking ceremony will be held for the new factory of EcoPro EM Co., Ltd., a joint venture between EcoPro BM, a secondary battery cathode material specialist, and Samsung SDI, at the Yeongilman 4 General Industrial Complex.
The groundbreaking ceremony will be attended by about 100 people, including Lee Cheol-woo, Governor of Gyeongbuk Province, Kim Hee-soo, Vice Chairman of the Gyeongbuk Provincial Council, Lee Kang-deok, Mayor of Pohang, Lee Dong-chae, Chairman of EcoPro, and Jeon Young-hyun, CEO of Samsung SDI.
EcoPro EM Co., Ltd. plans to invest 180 billion KRW on a 76,000㎡ site within the Yeongilman 4 General Industrial Complex and complete the factory by December next year. The factory (CAM6) to be constructed this time will have a building area of 19,800㎡ and will produce 31,000 tons of next-generation secondary battery cathode materials annually.
By 2025, they plan to invest more than double the amount to expand annual production capacity by 2.5 times. This will create approximately 410 new jobs.
EcoPro EM Co., Ltd. is a joint venture established in February this year between EcoPro BM and Samsung SDI, with a shareholding ratio of 60% for EcoPro BM and 40% for Samsung SDI. All produced secondary battery cathode materials will be supplied to Samsung SDI.
Gyeongbuk Province is focusing on fostering new industries such as secondary batteries, accelerator-based new drugs, and vaccines in response to the 4th Industrial Revolution era. The secondary battery industry is a core sector of the 4th Industrial Revolution, rapidly growing in electric vehicles, drones, and energy storage devices. In July last year, the government designated two areas, Pohang Yeongilman General Industrial Complex and Blue Valley National Industrial Complex, as regulatory-free zones for secondary battery recycling.
Lee Cheol-woo, Governor of Gyeongsangbuk-do, emphasized, "The investment by EcoPro EM will serve as a driving force for Pohang to make a new leap as a hub city for the secondary battery materials industry," adding, "Gyeongbuk Province plans to focus on fostering and supporting the secondary battery materials industry as a future new growth industry."
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