METROD INVESTS RM1.1B IN PLANT
New capacity will consolidate Malaysia’s position as industry leader in region
METROD Holdings Bhd has injected RM1.1 billion into its plant expansion, making it the single largest copper rod plant in Southeast Asia with a capacity exceeding 300,000 tonnes.
With the new capacity, Malaysia will be able to consolidate its position as an industry leader in the region.
Metrod president and chief executive officer Rajan Mittal said the RM1.1 billion investment also included capital expenditure and working capital.
Prime Minister Tun Dr Mahathir Mohamad opened the new facility at the Bukit Raja Prime Industrial Park, here, yesterday.
“With increased manufacturing capacity, Metrod is in a good position to expand its market portfolio and capitalise on the growing demand for copper globally. We decided to expand our operations in Malaysia due to its business-friendly environment and the policies of the government.
“This project is being launched at a very appropriate time in support of the government’s agenda of adopting and promoting Industry 4.0,” said Mittal.
Metrod began operations in 1981 and was listed on the Main Market of Bursa Malaysia in 1996.
It manufactures copper rods, wires, strips and profiles widely used in the production of cables, automotives, magnet wires, welding wires, transformers and lightning protection systems.