RM5bil investment planned for iron and steel industry

Mock cheque presentation: Cheng (fifth from right) presenting a mock cheque for RM250,000 to International Trade & Industry Ministry deputy secretary-general and MSI chairman Datuk Talagavathi Karapayah (fifth from left). The handing over was witnessed by Ong (centre). The money is for MSI to promote and develop the competitiveness, resilience and sustainability of the local iron and steel industry.

KUALA LUMPUR: A group of upstream players from the Malaysia Steel Association (MSA) is planning to invest about RM5bil within the next three years in an effort to boost the competitiveness and sustainability of the local iron and steel industry.

MSA president Tan Sri William Cheng said “With the support from the government, MSA members will undertake investment that involves increasing their capacity, productivity and also, an upgrade in technology and quality.”