Leader Steel Holdings to build two steel plants in 2005

Leader Steel Holdings to build two steel plants in 2005

Malaysian steel producer Leader Steel Holdings Bhd is planning to build two steel plants next year. The plants will use thin-gauged steel coils as raw materials to produce various steel products. The company plans to initially invest RM 20 million ($5.2 million) in the project. The two plants will be built in Penang and Sarawak. The reason for preferring thin-gauged steel coils as raw material is the fact that the price of the subject raw material is lower than that of other raw materials'. Meanwhile, the subject raw material, which will be imported from China, is used by a few steel producers in Malaysia. The company officials stated that the primary markets for the products produced by thin-gauged steel coils are planned to be Philippines, Vietnam and Indonesia.