PETALING JAYA: The steel manufacturing factory at the Malaysia-China Kuantan Industrial Park (MCKIP) will create 3,500 jobs when it is ready in early 2018, said Tan Sri Ong Ka Ting.
The Prime Minister’s special envoy to China said Alliance Steel (M) Sdn Bhd had brought along the latest steel manufacturing technology from China for its RM5.6bil steel mill.
“One of its main steel products, known as H section steel, is a unique product that is not made locally in Malaysia.
“Its material – raw iron ore instead of scrap iron – is sourced locally, with the end products mainly exported to regional and international markets,” said Ong after attending a recent briefing at MCKIP in Kuantan.
The mill, he added, will give rise to downstream industries and benefit local suppliers and vendors.
The MCKIP and its sister park China-Malaysia Qinzhou Industrial Park are the first government-to-government projects between the two countries.
The Malaysian consortium owns 51% of MCKIP via a public-private partnership led by IJM and the Pahang government.
The Chinese consortium is led by state-owned conglomerate Guangxi Beibu Gulf International Port Group and Qinzhou Investment Development Co Ltd.
The five major industries in MCKIP are steel and non-ferrous metal; clean technology and renewable energy; oil and gas, and petrochemicals; electrical and electronics; and research and development.
MCKIP and the Kuantan Port are situated within the East Coast Economic Region’s special economic zone.
IJM Corp Bhd has a 60% stake in Kuantan Port Consortium Sdn Bhd while its Chinese partner holds the remaining shares.
Ong said this meant that Malaysia had full control of the construction and operations of the new deep water terminal at Kuantan Port.
The port falls under the jurisdiction of the Kuantan Port Authority, which is directly under the Transport Ministry.
The Malaysian consortium could leverage on the experience and network in the shipping industry of its Chinese partner, he added.
“Together, they will bring in more cargo ships and shipping services to Kuantan Port, equipping it with the potential to turn into a regional hub for the movement of goods,” said Ong.
“The expansion of Kuantan Port by the joint-venture partners will elevate it to a strategic port in the Asean region.”
Read more at http://www.thestar.com.my/news/nation/2017/03/12/ka-ting-steel-venture-will-create-3500-jobs-msian-suppliers-and-vendors-to-benefit-from-plant/#RTrxp1aXFV7QeZpk.99