📋 Tender Overview
Project Number
49362
Company Name
SK leaveo Co., Ltd.
Date ESRS Disclosed
Aug 7, 2025
Country
Viet Nam
Region
East Asia and the Pacific
Last Updated Date
Environmental Category
B - Limited
Status
Pending Disbursement
Previous Events
Approved : Mar 20, 2025
Signed: Aug 7, 2025
Sector
Housing - For Lease [Project only]
Industry
other
Department
Regional Industry - MAS Asia & Pac
Project Description
SKC Ecovance was established in 2021 as a joint venture between SKC Co., Ltd, (a South Korea based publicly listed company focusing on producing rechargeable batteries and specialty chemical materials), and Daesang to build and operate a biodegradable plastic material production facility located in Vietnam, focusing on production of PolyButylene Adipate Terephthalate ( PBAT ) materials. In April 2024, SKC Ecovance was renamed SK Leaveo ( The Company ).
The SK Leaveo Hai Phong biodegradable plastic manufacturing plant is located at Lot No. CN5.5G2, Deep C Hai Phong 1 Industrial Zone, Dong Hai 2 Ward, Hai An District, Hai Phong City, Vietnam. The nearest residential area is in Trang Cat Ward, Hai Phong City, approximately 5 km from the site.
IFC is proposing a US$40 million equity investment in the Company to support development of the proposed project facility in Hai Phong, Vietnam ( The Project ). Facility construction commenced at the end of 2023.
Overview of IFC's Scope of Review
IFC’s due diligence includes:
(1) a review of: (i) available Environmental, Health, Safety (EHS) and Occupational health and safety (OHS) documents; (ii) the Company’s responses to a series of E&S questionnaires together with supporting documents and data; (iii) the Environmental Impact Assessment (EIA) report and Environmental Permit Application document of the Project facility; (iv) SKC’s ESG report 2024; (v) other construction EHS documents submitted by SKC; (vi) information found on SKC’s website, and in the public domain;
(2) IFC site visits in September 2024 to the Hai Phong construction site including a meeting with the Deep C Hai Phong Industrial Zone (Deep C IZ) EHS and sustainability teams, and in October 2024 to the Company’s LIMEX pilot plant in Hwaseong, South Korea (which adopts a similar production process as the Haiphong facility). During site visits, interviews were conducted with SKC’s Chief Engineer, the Company’s senior process engineers, the EHS/OHS head and team members, the EPC contractor’s EHS manager and supervisors, and other site and headquarter personnel.
