MoU to set up US$3 bln steel mill signed

KUCHING: Hebei Xinwuan Steel Group Co Ltd and MCC Overseas Ltd yesterday inked a memorandum of understanding ( MoU) for a steel project at Samalaju Industrial Park in Bintulu.

The ceremony was witnessed by Minister of Industrial and Entrepreneur Development, Trade and Investment Datuk Amar Awang Tengah Ali Hasan at his office at Wisma Sumber Alam, Petra Jaya.

“The MoU was for a proposed US$ 3 billion investment for the steel plant in Samalaju and on the part of the government we will facilitate the investment,” Awang Tengah told reporters after signing ceremony.

Tengah, who is also Second Minister of Resource Planning and Environment added that a feasibility study for the project

The MoU was for a proposed US$3 billion investment for the steel plant in Samalaju and on the part of the government we will facilitate the investment.

would be carried out and is expected to be completed within five months.

The minister also disclosed that the total investment in Samalaju had reached RM33 billion.

The MoU was signed in conjunction with a visit by a delegation fron Handan Municipal Government, China led by secretary of Handan Municipal Committee Gao Hongzhi.

Others in the delegation were secretary general and director of general office of Handan Municipal Committee Chen Xibin, director of Handan Development and Reform Commission Gao Heping, Mayor of Wuan city Wei Xuesheng, president of Hebei Xinwuan Steel Group Co Ltd Wang Wenan and vice-president of MCC Overseas Ltd Yang Ruobing.

Prior to the MoU signing ceremony, the delegation paid a courtesy call on Tengah,

The purpose of the visit was to strengthen business and trade cooperation between the state and Hebei province in China.

The delegation also paid courtesy calls on Assistant Minister for Industrial Development ( Investment and Promotion) Datuk Julaihi Narawi, and Assistant Minister for Resource Planning Datuk Mohd Naroden Majais.

Datuk Amar Awang Tengah Ali Hasan, Minister of Industrial and Entrepreneur Development, Trade and Investment

Tengah (fourth right) with Naroden on his left presenting a souvenir to Gao Hongzhi.

Awang Tengah (centre) and Julaihi on his left witnessing the exchange of document between Gao Wei (right) and Yang Ruobing.