CHENNAI – International Finance Corporation is weighing a potential $150 million investment into the India subsidiary of Salcomp, a Finnish electronics manufacturing services company.

Under the proposed scheme, IFC will supply funds to Salcomp Technologies India Pvt Ltd. (Salcomp Tech), a manufacturer of phone charging devices and related equipment. Salcomp Tech would use the funds to expand its manufacturing capacity in Chennai. The total project cost is $250 million and IFC is providing a seven-year loan up to $150 million to fund the project.

Salcomp Tech is 100% owned by Salcomp Plc, a Finland-based holding company. Salcomp Plc is a wholly owned subsidiary of Lingyi iTech (Guangdong) Co., a manufacturer of precision parts and chargers for consumer electronic products for OEMs such as Apple. Lingyi’s controlling shareholder, Fangqin Zeng, owns 60.5% shares in the company and the remaining shares are public floats.

Salcomp has annual revenues of more than $600 million and about 12,000 employees worldwide.

IFC is a global development institution focused on the private sector in developing countries.

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