Masteel sets aside RM100mil as capex for new mill

Source：The Star Release Date：2013-11-13 171

Metalworking

Malaysia Steel Works (KL) Bhd (Masteel) is allocating RM100mil for capital expenditure (capex) over the next two years to construct a new steel rolling mill.

Managing director and chief executive officer Datuk Seri Tai Hean Leng is targeting the new mill to be completed by early 2015 and boost the company's annual steel bar production capacity to 550,000 tonnes from 350,000.
“The new mill is adjacent to our Bukit Raja, Klang, meltshop and would give us greater operational efficiency in terms of logistics and economies of scale.”
As for steel sales, Tai expects the volume to increase by between 8% and 10% this year.

(Source: The Star)

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