By Sharen Kaur
sharen@nstp.com.my
Published in NST on July 28, 2012
KYM chief operating officer Allan Chin Kong Yaw said all preliminary works for the project like getting approvals from the relevant authorities for building construction and the environmental impact assessment are in progress.
Chin said according to Boston Consulting Group (BCG), the site (reclaimed land) is able to accommodate a huge steel mill, a shipyard, dry bulk port, tank farms, oil and gas industries and fabricators.
KYM, controlled by its executive director Datuk KY Lim and his family, appointed BCG to do a feasibility study on the project.
“We are talking to several potential investors here and overseas who are keen to invest in the project. The funding will be sourced by the SPV,” Chin said.
Speaking after a shareholders meeting yesterday, he said the iron ore supply for the steel mill and heavy industries will come from Vale International’s RM9 billion iron ore distribution centre in Teluk Rubiah, Perak.
The distribution centre, scheduled to start operation in 2014, will have a capacity to handle 90 million tonnes of iron ore per year.
Chin said although KYM has an indirect stake in the SPV, the project will contribute positively to its earnings growth.
For the current financial year ending January 31 2013, KYM expects to do better than last year, led by its manufacturing division.
sharen@nstp.com.my
Published in NST on July 28, 2012
KYM Holdings Bhd says the proposed steel mill at its industrial park project in Perak will need a US$5 billion (RM16 billion) investment to produce five million tonnes per year.
KYM has formed a partnership with the Perak State Development Corp (PKNP) to reclaim 1,376 hectares in Bagan Datoh for the industrial park.
They have set up a special purpose vehicle (SPV) called Perak Eco Industrial Development Sdn Bhd to help reclaim the land, build infrastructure and look for investors.
KYM holds an indirect 30 per cent stake in the SPV while PKNP holds 20 per cent and the rest is held by private investors.
KYM has formed a partnership with the Perak State Development Corp (PKNP) to reclaim 1,376 hectares in Bagan Datoh for the industrial park.
They have set up a special purpose vehicle (SPV) called Perak Eco Industrial Development Sdn Bhd to help reclaim the land, build infrastructure and look for investors.
KYM holds an indirect 30 per cent stake in the SPV while PKNP holds 20 per cent and the rest is held by private investors.
The project forms phase one of the multi-billion ringgit Perak eco-industrial hub by the state, centred on iron and steel industries.
KYM chief operating officer Allan Chin Kong Yaw said all preliminary works for the project like getting approvals from the relevant authorities for building construction and the environmental impact assessment are in progress.
Chin said according to Boston Consulting Group (BCG), the site (reclaimed land) is able to accommodate a huge steel mill, a shipyard, dry bulk port, tank farms, oil and gas industries and fabricators.
KYM, controlled by its executive director Datuk KY Lim and his family, appointed BCG to do a feasibility study on the project.
“We are talking to several potential investors here and overseas who are keen to invest in the project. The funding will be sourced by the SPV,” Chin said.
Speaking after a shareholders meeting yesterday, he said the iron ore supply for the steel mill and heavy industries will come from Vale International’s RM9 billion iron ore distribution centre in Teluk Rubiah, Perak.
The distribution centre, scheduled to start operation in 2014, will have a capacity to handle 90 million tonnes of iron ore per year.
Chin said although KYM has an indirect stake in the SPV, the project will contribute positively to its earnings growth.
For the current financial year ending January 31 2013, KYM expects to do better than last year, led by its manufacturing division.
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