Malaysia optimistic for a steel futureThursday, November 5, 2015
BlueScope Malaysia has welcomed the Malaysian Government’s 2016 budget which will play a pivotal part in maintaining strong, sustained innovation, productivity and, most importantly, economic growth in Malaysia.
“We applaud the government’s initiative in accelerating infrastructure projects such as the RM5billion Malaysian Vision Valley; the RM11billion Cyber City Centre and the RM16.6billion toll-free Pan Borneo Highway, which we believe will help accelerate the growth of our local steel sector,” says Pongsak Padungkarn, Country President Malaysia, Singapore & Brunei.
The Malaysian Iron and Steel Industry Federation predicts apparent steel consumption will surpass the 10 million tonnes reached in 2014 and is on track to grow at about 4% per annum in 2015 and 2016.
A strong catalyst for these projections is the optimistic outlook for the local infrastructure sector, which is predicted to continue with double-digit growth and drive the steel sector.
“All stakeholders need to raise the quality and standards of local steel to remain competitive in the current market environment. We must continue investing in innovation, technology, and a highly skilled workforce to ensure the Malaysian steel industry remains resilient,” concludes Pongsak.
A sample of the projects BlueScope Malaysia has been involved in can be viewed at the right.