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.