Malaysia based newspaper Nanyang Siang Pau reported that Beijing based Chinese steelmaker Shougang Group and Malay Xiede Investment Co are to jointly build a steel plant at Kemaman in Malaysia.

The two-phase project will cost a total of MYR 1.8 billion. Phase one will have an annual steel production capacity of 700,000 tonnes and will cost MYR 750 million. Construction started on December 5 2011 and is due to be completed in 2013. Meanwhile, phase two will cost MYR 1.05 billion and will have an annual steel production capacity of 800,000 tonnes.

(Sourced from Nanyang Siang Pau)