Singapore-based Sembawang Kimtrans Ltd has announced that it has signed a MoU with Malaysia’s Amsteel Mills Sdn Bhd. to form a joint venture for providing marine logistics services in that country. Amsteel, a unit of Lion Industries Corp Bhd will hold the majority stake in the joint venture, Sembawang Kimtrans said in a statement.
The venture will use tugs, barges and floating cranes to transport steel scrap and iron ore from deep sea ports in the Malacca Straits through Sungai Langat to Amsteel’s steel mill in Banting, state of Selangor.
Source: SteelGuru
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