[Business Times] Masteel lands RM50b job for MRT

KUALA LUMPUR: Integrated steel manufacturer, MalaysiaSteel Works (KL) Bhd (Masteel), has landed a contract to supply Grade 500high-tensile steel bars for the Klang Valley Mass Rail Transit (KV MRT) project.

“We are pleased to have landed this supply contract for the RM50 billion MRT project,” Masteel Managing Director/Chief Executive Officer, Datuk Seri Tai HeanLeng said, in a statement today.

“We expect the frequency and quantum of awards for steel bars to intensify over the next three years as the momentum of the project’s implementation gains further traction,” he added. The contract will see Masteel deliver RM6.7 million worth of steel bars byend-November 2012 to project owner Mass Rapid Transit Corp Sdn Bhd (MRT Corp).

The bars will be used at various sites, including Package V1-Sungai Buloh,Package V2-Kota Damansara and Package V5-Cheras.

The three-line, 150km MRT project is an Entry Point Project under the government’s Economic Transformation Programme.

It is expected to be the backbone of the Klang Valley’s public transport network and forecast to serve a population of more than 1.2 million people once fully completed in 2017. Aside from the KV MRT, Tai sees Masteel’s strategic location within the Klang Valley as putting the Group in a good position, to benefit from other upcoming projects as well.

“These include the RM7.0 billion KL Light Rail Transit extension, the RM1.0billion New Pantai Expressway and the RM2.0 billion Low Cost Carrier Terminal.

“We are poised to capitalise on these new opportunities, having continuously invested in our plant capacity and efficiency upgrades.

“Our third rolling mill, currently being constructed, will also allow us to benefit from all these prospects in the market. The Group is bullish on prospects going forward,” he added. Masteel currently has a 550,000 metric tonne (MT) per annum meltshop in Bukit Raja and a 350,000 MT rolling mill in Petaling Jaya, both in Selangor.

The Group’s second rolling mill, being built adjacent to the meltshop, is slated to be operational by end-2013 and will boost steel bar production by an additional 200,000 MT.

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