Lion Industries refurbishes plant in Banting
18 Aug 2021
Lion Industries Corp Bhd said today its hot rolled coil (HRC) plant in Banting, Selangor is undergoing repair and refurbishment.
The plant, which has a rated annual capacity of 3.2 million tonnes of HRC, is expected to be ready to commence production in December, ramping up to full production by February 2022, the group said in a statement.
HRC is used to produce a wide range of steel products such as highway guardrails, water pipes, high pressure vessels and gas cylinders, vehicle chassis and parts, and is also used to produce cold rolled coils.
Lion Industries is also undertaking modification work at its steel plant in Pasir Gudang, Johor which produces billets, and steel bars and sections.
The plant is targeted to commence production early next year, in January or February.
It has a rated annual capacity of 720,000 tonnes for production of billets, bars and sections which are used in the construction and downstream manufacturing industries.
Lion Industries said its steel operations will continue to support the local downstream manufacturers through its supply of both flat and long steel products that are required for the country’s industrialisation programme.
The group, in its statement, stressed that the steel industry is deemed a strategic industry by the government as it supplies essential raw materials to a host of industries, thus deepening and widening the manufacturing base.
Lion Industries’ share price closed 0.5 sen or 0.89% lower at 55.5 sen, valuing the group at RM402.02 million.
Source: The Edge Markets