- Presently, the output of LG Chems battery cell production in Europe amounts to 15 GWh
- LG Chem had also secured a 480 million euro loan from the European Investment Bank to expand its production capacities in Wroclaw in southwest Poland in March
As per Korean media reports, LG Chem has signed a 550 million euro (around 700 billion won) green loan contract with Korea Development Bank (KDB), Export-Import Bank of Korea (Korea Exim bank) and Nonghyup Bank. It has been done to finance the expansion of its production capacities in Poland.
LG Chem had also secured a 480 million euro loan from the European Investment Bank to expand its production capacities in Wroclaw in southwest Poland in March. The cost of this project is about 1.5 billion euros and it involves increasing LG Chem’s annual production capacity in Wroclaw to around 65 GWh.
Dominate the global battery market
As per a report by Koreaittimes, Cha Dong-seok, vice president, LG Chem said that the green loan procurement will greatly the company to continue our investment for the future of the battery business. The company will actively cooperate with financial and small and medium-sized suppliers to strengthen the competitiveness of the country’s industries and dominate the global battery market.
Presently, the output of LG Chems battery cell production in Europe amounts to 15 GWh. Recently, LG Chem had purchased a former TV assembly plant of the Turkish company Vestel.
