Company from China to implement Phase 1 of integrated steel project in Samalaju next year
04 Sep 2023
Wenan Steel (Malaysia) Sdn Bhd will implement the first phase of its integrated steel project in Samalaju Industrial Park next year.
This was conveyed by Xin Wu’an Steel Group Company Limited chairman Wang Wenan to Deputy Premier Datuk Amar Awang Tengah Ali Hasan during the latter’s courtesy call on Wang in Beijing, China last Friday.
Xin Wu’an Steel Group Company is the parent company of Wenan Steel (Malaysia) Sdn Bhd.
Awang Tengah, who is International Trade, Industry and Investment Minister, had met with Wang and his team to discuss the latest development of Wenan’s steel project in Sarawak.
He was informed that like many players whose businesses were affected by the Covid-19 pandemic, the RM13.8 billion high-grade steel project in Samalaju Industrial Park also faced challenges during this difficult time.
However, with business conditions improving, Wenan will accelerate the project implementation of its steel plant in Sarawak.
Wang thanked Awang Tengah for his concern on the progress of the project in Samalaju and assured the Deputy Premier that Wenan will expedite the implementation of the project after land preparation works have been completed.
He also said that the company will prioritise jobs for Sarawakians where possible so that the project can create a winwin situation for all.
In addition to Wenan, Awang Tengah also paid courtesy call to Hebei Yanbo Color Coated Sheets Co Ltd (Hebei Yanbo) president Liu Jie on the same day to discuss the company’s intent to invest in galvanised steel sheets and colour coated steel sheets in Sarawak.
The Deputy Premier welcomed the proposed investment in view that the project is a downstream of the steel industry which the state is promoting, particularly in Sarawak Corridor of Renewable Energy (SCORE) areas.
“The project could strengthen the local steel industry whereby downstream players such as Hebei Yanbo could leverage on the products from upstream and midstream players in the steel industry when they come onboard,” he said.
Awang Tengah, who is also Second Natural Resources and Urban Development Minister, said steel manufacturing is one of the priority industries that has the potential to create huge downstream potentials particularly in construction, automobile as well as household goods.
He added that Hebei Yanbo has plans to visit Sarawak to further conduct feasibility study for the proposed project.
Source: Borneo Post
