KUANTAN: Alliance Steel (M) Sdn Bhd (ASSB), which is the Malaysia-China Kuantan Industrial Park's (MCKIP) first investor, will expand its manufacturing plant here with investments worth RM5 billion.
Menteri Besar Datuk Seri Wan Rosdy Wan Ismail said the second phase expansion project covering an area of 101.2ha is the continuation of innovative exploration of bilateral economic relations between both China and Malaysia under the "Belt and Road" initiative.
"It is widely recognised that iron and steel products are one of the main exports for Pahang. This project will help increase the steel production capacity from 3.5 million tonnes to 10 million tonnes annually with the introduction of steel plates as a new product.
"The project will create 3,000 job opportunities for the people of Pahang and spur local economic growth. Eighty per cent or 2,400 jobs will be opened for Malaysians," he said in a statement after witnessing the memorandum of understanding (MoU) signing ceremony for the second plant expansion project between the Pahang government and ASSB at Wisma Sri Pahang today.
Meanwhile, Wan Rosdy said the Pahang government is always committed to provide a conducive environment to attract investors to expand their businesses across the state.
"Last year, Pahang managed to attract investments worth RM10.5 billion which consists of RM987 million domestic investments and RM9.8 billion foreign investments.
"Besides providing a conducive environment, the state government will also ensure political stability to convince investors to come to Pahang. We are looking forward to more foreign direct investments this year.
"The Pahang government is striving to ensure the state can be developed in a comprehensive and balanced manner for the welfare and benefit of the people. We are committed to ensure Pahang achieves its key performance indicator (KPI) for this year to secure investments worth RM18 billion," he said.
Pahang state secretary Datuk Seri Dr Sallehuddin Ishak signed the MoU on behalf of the Pahang government while ASSB was represented by its chief executive officer Steve Hujiulin.