Malaysian Steel Works to widen its product range
According to recent news in the market, Malaysian Steel Works is planning to invest MYR 100-120 million ($26.3-31.5 million) on a rolling mill to produce steel sections in the next two years in order to expand its product range. The rolling mill will have an annual
production capacity of 150'000 tons.
Malaysian Steel, which will be listed on February 7, 2005, will fund the project through internal sources and borrowings.
50% of the
production at the mill be exported to
Singapore and
Indonesia and the remaining 50% will be sold in the domestic market.
The company officials stated that demand for steel sections has risen significantly.