International Finance Corporation has announced that it is considering a debt financing package of up to $80 million for Singapore-based Green Esteel Pte. Ltd., to support equipment replacement, refurbishment, and working capital at Eden Flame, an existing integrated steel facility in Malaysia.
Eden Flame is operated by Eden Flame Sdn Bhd, a wholly-owned subsidiary of Green Esteel.
Plant modernization and asset replacement
The project centers on the modernization of the plant through the removal of obsolete assets and the installation of new production equipment. Planned activities include dismantling the existing electric arc furnace and replacing it with a new unit, removing legacy rolling mill lines and installing upgraded rolling lines, and providing additional working capital to support operations. The upgrades are intended to reduce yield losses, lower energy consumption, and improve overall operational efficiency and performance.
New steelmaking and rolling complex
IFC financing would support the installation of a new steelmaking and rolling complex, including a 50-mt Consteel electric arc furnace, a dual-station ladle furnace with a ladle transfer car, and a continuous casting machine for billet production.
The scope also includes a comprehensive dedusting system featuring primary and secondary fume extraction, baghouse filtration, and emission control systems.
Downstream facilities will comprise a high-speed rebar rolling mill equipped with a Tempcore system, a natural gas-fired reheating furnace, enclosed scrap storage and processing bays, a cut-and-bend facility for value-added rebar, refurbished rebar and scrap workshops, overhead crane systems, and supporting infrastructure such as transformers, fire protection systems, water treatment units, drainage, rainwater harvesting, security installations, and site facilities. All major technical equipment will be supplied by Chinese manufacturers.
Designed capacity and production flow
Once fully operational, the facility is designed to reach 600,000 mt per year of steelmaking capacity and 600,000 mt per year of rebar production.
Demolition of the existing facilities was completed in early November 2025, with construction of the new plant scheduled to begin in January 2026. Commercial operations at the upgraded facility are expected to commence in September 2026.