[The Edge Malaysia] Masteel lands RM6.7 million supply contract with KVMRT

PETALING JAYA (Nov 9) : Integrated steel manufacturer Malaysia Steel Works (KL) Berhad (Masteel) announced that it has landed a contract to supply Grade 500 high-tensile steel bars for the Klang Valley Mass Rail Transit (KVMRT) project.

The contract will see Mastell deliver RM6.7 million worth of steel bars by end-November 2012 to project owner Mass Rapid Transit Corporation Sdn Bhd (MRT Corp). The bars will be used for the CONSTRUCTION [ ] of viaducts including Package V1 – Sungai Buloh, Package V2 – Kota Damansara and Package V5 – Cheras.

“We are pleased to have landed this supply contract for the RM50.0 billion MRT project. 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 ” said Masteel managing director and chief executive officer Datuk Sri Tai Hean Leng.

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 is forecast to serve a population of more than 1.2 million people once fully completed in 2017.

Aside from the KVMRT, Tai said Masteel’s strategic location within the Klang Valley put the group in a good position to benefit from other upcoming projects as well.These might include the RM7.0 billion KL Light Rail Transit extension, the RM1.0 billion 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, which is currently being constructed, will also allow us to benefit from all these prospects in the market. The group is bullish on our prospects going forward,” he concluded.

Masteel currently has a 550,000 metric ton (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, which is being built adjacent to the meltshop, is slated to go operational by end-2013 and will boost steel bar production by an additional 200,000 MT.

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