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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] EcoPro BM announced on the 30th that it has secured over 1 trillion KRW through an Export Credit Agency (ECA) to build a plant in Hungary.
According to EcoPro BM, its European subsidiary, EcoPro BM Hungary, signed an ECA financing agreement with the Export-Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-Sure) on the 27th at IFC in Yeouido, Seoul. The contract is valued at 860 million USD (approximately 1.2 trillion KRW). ECA financing is a system where ECAs like KEXIM and K-Sure provide direct loans, guarantees, and insurance to support domestic companies' overseas ventures.
Under this agreement, KEXIM will provide guarantees worth 180 million USD and direct loans of 250 million USD, while K-Sure will offer insurance worth 430 million USD. EcoPro BM Hungary will leverage this to borrow funds from five global commercial banks, including BNP Paribas and HSBC, to construct the Hungarian plant.
EcoPro BM is building a cathode material production base in Debrecen, Hungary, with an annual capacity of 108,000 tons. The total investment amounts to 1.28 billion USD. The plant is expected to start mass production in the first half of next year. Once operational, the company anticipates increased demand from customers, such as battery and automobile manufacturers, who seek to avoid European market regulations and tariff risks.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
