Green Steel Project in Sabah to draw close to RM20bil in total investment

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KOTA KINABALU: A Sabah-owned corporation has inked a memorandum of understanding with a steel manufacturer that promotes sustainability on Wednesday (Nov 30).

The Sabah Oil and Gas Development Corporation Sdn Bhd has established a land-lease agreement with Esteel Enterprise Sabah Sdn Bhd for the Green Steel Project which is expected to have a total investment value of US$4.39bil .

It said Esteel Sabah initiated the project to develop a full green industry supply chain covering iron ore concentration to high-end steel processing. The statement said that in future, operations will gradually transform to green hydrogen smelting with near-zero carbon emissions.

 

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France Dernières Nouvelles, France Actualités