February 27, 2019 / 8:49 AM / 8 months ago

SK Innovation to invest $845 million in building second battery plant in Hungary

FILE PHOTO - The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - South Korea’s SK Innovation, which owns the country’s top refiner SK Energy, said on Wednesday that it will invest a total of 945.2 billion won ($845 million) to build its second battery plant in Hungary.

The investment will be made to build and operate the company’s battery plant, the company said in a regulatory filing without elaborating on a production capacity and construction period.

Reporting By Jane Chung; editing by Christian Schmollinger

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