Posted on 06 Aug 2021
The Association of Southeast Asian Nations (ASEAN) recently started the latest wave of steel production capacity expansion, of which Malaysia has initiated the engineering project of a new production capacity.
Malaysian officials said that the steel mill was predicted to invest approximately US$3.269 billion and to be operational by the end of 2024, with an annual production capacity of hot-rolled flat products of 5 million tons.
In addition, the Dung Quat plant under Vietnam's Hoa Phat Group was scheduled to start construction in early 2022, which will produce 5.6 million tons of steel strips per year.
Dexin Steel Indonesia also planned to expand the annual production capacity of pig iron and crude steel to 6 million tons and 7 million tons in the first half of 2022, respectively.
Source:Yieh
