Kinsteel proposes JV to operate Gurun steel plant

Finished U-channel bars being stored at Kinsteel Bhd's stockyard in Gebeng Industrial Estate in Kuantan. *** Local Caption *** The U-channel bars being stored at the company’s stockyard in the Gebeng Industrial Estate in Kuantan. Mixed impact of rising mineral prices Pix without caption - 20060413 StarBiz Pg4 - Latif

PETALING JAYA: Kinsteel Bhd has proposed to form a joint venture (JV) in which it will own 45% with a China partner Tianjin Qiangbang Industrial Co Ltd (TQI) to operate a steel plant in Gurun, Kedah.

The proposal which had been proposed through a letter of intent (LOI) will see the PN-17 company leading the joint venture while TQI will have a 40% stake in the operations of the plant.