Malaysian company Kinsteel together with China-based Tianjin Qiangbang Industrial propose to form a joint venture to build a plant which will include an EAF, and bar and wire rod mill. The installed capacity will be 500,000 mt per year and it is expected that production will be started in March 2021.
The main products of the JV will be billet, wire rod, spring steel flat bar (to be used mainly as preferred raw material of vehicles leaf springs, till blades and chain products) and laminated leaf spring.
The wholly-owned subsidiary of Kinsteel, Kin Kee Steel Service Centre (KKSSC), is expected to hold 45 percent in the new company, while 40 percent will be owned by Tianjin Qiangbang Industrial and the remaining 15 percent by another Malaysian company.