Posco secured financing from BID Invest for up to US$700 million to expand its lithium project

BID Invest approved financing of up to US$700 million for Posco Argentina, the subsidiary of Posco Holdings Inc. used by the group to develop its lithium-related activities in the country.

The loan will be allocated to expanding the company's lithium project. The transaction represents financial backing to move forward with the expansion of facilities and production activities associated with the development of the resource.

Posco Holdings, of South Korean origin, participates in the lithium chain through its local structure. Posco Argentina serves as the corporate vehicle through which the group channels its investments in the country.

The financing was structured by BID Invest, the private sector arm of the Inter-American Development Bank Group. The reported amount reaches up to US$700 million, although the available information does not specify the terms, timeframes or disbursement schedule.

With information from EconoJournal.