16
Jun
10:55
Angang to invest in Malaysia's Eastern Steel
China’s Anshan Iron and Steel (Angang) is negotiating its entry into the Eastern Steel joint venture between Shougang and Hiap Teck Venture in Malaysia, Hiap Teck says. The idled slab-making project was operating for just months before it shut down amid heavy losses, Kallanish notes.
Hiap Teck says it will enter into a formal agreement with Angang’s Angang Group Hong Kong by the end of a 60 day exclusivity period starting 1 July. This would see Angan…
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