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.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

kinsteel , Steel mill ,

   

Next In Business News

Trade showing remains on upward trajectory
Maxis pledges full support to government’s 5G delivery model
Fajarbaru Builder secures RM13mil job
MKH Oil Palm IPO oversubscribed
The pros and cons of earned wage access
Making every load lighter
Making the Malaysian startup pitch
How Sin-Kung leveraged air cargo for its success
Domestic office-sector REITs stay cautious
‘Muted optimism’

Others Also Read