Malaysian steelmaker Hiap Teck Venture has announced that its 27.3 percent-owned joint venture company Eastern Steel (ESSB) has commissioned its new blast furnace.
With the new furnace, ESSB’s production capacity will increase from the current annual 700,000 mt of steel slabs and billets to 2.7 million mt, to meet domestic demand and for export to countries in Southeast Asia and North Asia.
The company’s new furnace is also expected to increase its revenues.
