Malaysia inks MoU with Hebei Xinwuan Steel Group to setup 3 million tonne steel plant in Sarawak-The 18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition 8/30/2016 金属展-冶金展-钢铁展-steel expo-metal &metallurgy expo
The Borneo Post reported that the State Government yesterday signed a Memorandum of Understanding with Hebei Xinwuan Steel Group and MCC Overseas Limited to conduct preliminary feasibility studies for the development of a steel plant in Sarawak. The proposed RM13-billion (USD3 billion) integrated project will be located in Samalaju Industrial Park (SIP) in Bintulu. MCC Overseas is a Fortune 500 company.
The project will be the largest ever foreign direct investment (FDI) in Sarawak if it materialises. All parties involved have pledged their support and commitment to facilitate the study and roll out the project.
Deputy State Secretary Datu Ismawi Ismuni signed the MoU on behalf of Sarawak while president Wang Wenan and vice-president Cheng Changan signed for Xinwuan Steel and MCC Overseas respectively in Handan City in Hebei Province.
Industrial and Entrepreneur Development, Trade and Investment Minister Datuk Amar Awang Tengah Ali Hasan welcomed the interest and commitment of the companies from China under their ‘One Belt, One Road’ strategic plan to expand abroad by choosing Sarawak.
-The
18th China(Guangzhou)Int’l Metal &Metallurgy Exhibition
