World Bank’s IFC, OCI TerraSus to build Southeast Asia’s first clean energy-powered polysilicon plant in Bintulu

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By DayakDaily Team

KUCHING, March 31: The World Bank Group, through its private-sector arm, the International Finance Corporation (IFC), is partnering with OCI TerraSus Sdn Bhd, a Malaysian subsidiary of South Korea’s OCI Holdings Co. Ltd, to develop Southeast Asia’s first clean energy-powered manufacturing facility for ultra-high purity semiconductor-grade polysilicon in Bintulu

According to a media release on Monday (March 30), the facility, a joint venture with Japan’s Tokuyama Corporation, will strengthen Malaysia’s position in the global semiconductor supply chain while creating high-quality jobs in the country.

As part of this collaboration, IFC will provide OCI TRS with an a loan of up to $125 million, primarily to fund the construction of the state-of-the-art facility.

Once operational, it will run entirely on renewable energy and produce essential raw materials for silicon wafers and semiconductor chips, marking a major milestone for Malaysia and the broader region.

The partnership also focuses on enhancing OCI TRS’s environmental, social, and governance (ESG) standards, corporate governance, and management systems, ensuring the company’s long-term competitiveness and resilience in the rapidly growing semiconductor and artificial intelligence sectors.

OCI Holdings and OCI TerraSus chairman Lee Woo Hyun emphasised that this partnership’s benefits extend beyond physical infrastructure.

“It is a key driver in strengthening our management systems, ESG practices, and long-term competitiveness as a global company,” he said.

As demand grows for semiconductors and artificial intelligence, he noted the importance of high-purity materials will continue to increase.

“This cooperation with IFC reinforces our confidence in Sarawak and Malaysia as strategic partners in the global semiconductor value chain,” he added.

World Bank Group country manager for Malaysia Judith Green highlighted that this landmark development marked IFC’s first project in Sarawak.

“Malaysia has significant ambitions to move up the value chain in high-value manufacturing industries, which are significant creators of jobs, making them a key ara of focus for the World Bank Group.

“We are delighted to support the country in fulfilling these ambitions and are encouraged by OCI TerraSus’s commitment to strengthening its environmental, social and governance standards, and look forward to supporting the company in achieving its commitment,” she added. — DayakDaily

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