Hiap Teck Venture Bhd (HTVB) will soon be the only company in Malaysia and the Asean region to produce steel slabs used in the manufacturing and construction industry.
Its executive director Low Choong Sing said at present there are no companies in Southeast Asia that specialise in making steel slabs and many import them from Eastern European countries such as Ukraine.
"We would be the first in this industry I believe, others are planning but have nothing concrete yet," said Low when met at Wisma Hiap Teck after its extraordinary general meeting (EGM), yesterday.
HTVB said the integrated steel complex in Teluk Kalung, Kemaman, Terengganu, which will start construction next month will be completed by mid-2013.
"Once completed, the steel complex in Kemaman is capable of producing up to 700,000 tonnes of steel a year and that is equivalent to RM750 million. So that translates to a market share of about 20 per cent," said Low.
Read more: Hiap Teck to be Asean's only steel slab producer http://www.btimes.com.my/Current_News/BTIMES/articles/jrhiapteck/Article/#ixzz1eaDI5ITo
Its executive director Low Choong Sing said at present there are no companies in Southeast Asia that specialise in making steel slabs and many import them from Eastern European countries such as Ukraine.
"We would be the first in this industry I believe, others are planning but have nothing concrete yet," said Low when met at Wisma Hiap Teck after its extraordinary general meeting (EGM), yesterday.
HTVB said the integrated steel complex in Teluk Kalung, Kemaman, Terengganu, which will start construction next month will be completed by mid-2013.
"Once completed, the steel complex in Kemaman is capable of producing up to 700,000 tonnes of steel a year and that is equivalent to RM750 million. So that translates to a market share of about 20 per cent," said Low.
Read more: Hiap Teck to be Asean's only steel slab producer http://www.btimes.com.my/Current_News/BTIMES/articles/jrhiapteck/Article/#ixzz1eaDI5ITo
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