KUCHING: Deputy Premier Datuk Amar Awang Tengah Ali Hasan has held discussions on a China company’s intent to invest in galvanised steel sheets and colour coated steel sheets in Sarawak.
He held a meeting with Liu Jie, president of Hebei Yanbo Colour Coated Sheets Co, Ltd during his official visit to Beijing on Sept 1.
Awang Tengah welcomed the proposed investment as the project is a downstream of the steel industry which Sarawak is promoting, particularly at the Sarawak Corridor of Renewable Energy (SCORE) area.
“The project could strengthen the local steel industry whereby downstream players such as Hebei YanboColor Coated Sheets Co., Ltd. could leverage on the products from upstream and midstream players in the steel industry when they come onboard,” a statement said on Sunday.
“Steel manufacturing is one of the priority industries that has potential to create huge downstream potentials particularly in building construction, automobiles down to household goods.
“The company has plans to visit Sarawak to further conduct a feasibility study for the proposed project,” the statement added.
In a related development, Awang Tengah who is Minister of International Trade, and Investment also met with Wang Wenan, chairman of XinWu’an Steel Group Company Limited which is the parent company of Wenan Steel Malaysia Sdn Bhd.
The statement stated that Wang and his team discussed the latest development of Wenan’s steel project in Sarawak.
“Like many players whose business was affected by the Covid-19 pandemic, the RM13.8 billion high grade steel project in Samalaju Industrial Park also faced challenges during these difficult times but business conditions are however improving.
“Wenan is proceeding to implement phase one of its integrated steel project in Samalaju Industrial Park, expected to commence in the first quarter of 2024,” the statement said.
Wang assured Awang Tengah that Wenan will expedite the implementation of the project after the land preparation works have been completed.
Wenan Steel in a statement said the company will prioritise giving work to Sarawakians where possible so that the project can create win-win situations for all.
