On the 2nd December it has been processed in our Malaysian factory, Bahru Stainless, the first coil in the finishing lines. The first investment phase (370 million dollars) will be completed with the commissioning of the cold rolling mill in the summer of 2011.
The annual production capacity in this first phase will reach 240,000 Mt.
Bahru Stainless is a subsidiary company of Acerinox Group (67% stake of the share capital), which has been incorporated with the shareholding of Nisshin Steel (30%) and Metal One (3%).
In its last stage, this project will be an integrated stainless steel factory with a melting capacity of 1 million Mt and a cold rolling capacity of 600,000 Mt. Bahru Stainless has already obtained the environmental licenses for the integral production of stainless steel.
The total investments already approved, for phases I and II, amount to 680 million dollars.
The main equipments for the Malaysian mill investment of the second phase continue to be awarded for a total amount of 310 million dollars. The production capacity after the second phase will reach 400,000 Mt.
First coil processed in the slitting line