Plant purchase marks financing first for SG in Korea

Limited recourse project finance comes to Korea with the acquisition of a petrochemical plant from Daelim.

Bankers at SG, Hana and Fuji are celebrating the first ever limited recourse project financing to close in Korea. The deal is for the purchase of a petrochemical plant from the Daelim group by a project company called PolyMirae. PolyMirae is a 5050 joint venture between Daelim and the Montell Group - which in turn is held by Montell Industrial, Taiwan Polypropylene and Montell SDK Sunrise.

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