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$328M Malaysia ferroalloys venture set

Keywords: Tags  China Steel, Assmang, Sumitomo, ferroalloys venture, Malaysia plant, Sakura Ferroaloys, high-carbon ferromanganese, silicomanganese Weilyn Loo

SINGAPORE — A $328-million ferroalloys plant will be established in Malaysia as a joint venture between South Africa’s Assmang Ltd., Japan’s Sumitomo Corp. and Taiwan’s China Steel Corp.

The three companies signed the deal Oct. 10 to invest in the joint-venture company, Sakura Ferroalloys Sdn Bhd, in Kuching in the eastern Malaysian state of Sarawak, China Steel said this week.

The 279.2-acre plant, to be built in the still developing Samalaju industrial park, some 37.3 miles north of Bintulu in Sarawak state, will have the capacity to produce 108,000 tonnes of high-carbon ferromanganese and silicomanganese annually.

China Steel has an offtake allocation of about 30,000 tonnes per year from the project, which is equivalent to 30 percent of its annual raw material needs.

The plant is slated to begin production by the end of 2015, China Steel said.

Assmang holds a 54.36-percent stake in the plant, while Sumitomo owns 26.64 percent and China Steel the remaining 19 percent.

A version of this article was first published in AMM sister publication Steel First.

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