JOHOR BARU: Spanish steel company Acerinox S.A. is investing RM5bil in its new production plant in Tanjung Langsat near Pasir Gudang. The Johor plant will be the company's first plant in Asia. Its existing plants - all developed with partner Nisshin Steel of Japan - are in Spain, South Africa and the US. Acerinox's investment is the single largest foreign direct investment (FDI) to be secured by Johor to date. The integrated plant, on a 140ha site, will be developed in phases. When fully ready in 12 years, it will have the capacity to produce one million tonnes of stainless steel, including 600,000 tonnes of cold-rolled steel sheets, annually. “This is a major success for Johor to continue to position itself as the premier destination for capital-intensive high-technology industries in Malaysia,” Mentri Besar Datuk Abdul Ghani Othman said in a statement yesterday. Read more>>
(The Star 8-3-2008)
