The plant will have an estimated annual production capacity of approximately 500,000 metric tonnes and its initial product focus is on 10mm – 40mm rebars, which is a high-demand segment in Southeast Asia, the group notes.
HG Metal Manufacturing has entered into a subscription agreement for 18,000,000 Class B Preference Shares in Eden Flame for RM1 per share, amounting to RM18 million ($5.68 million).
Eden Flame is a Malaysian steel manufacturer with a plant in Pasir Gudang, Johor Bahru. It is targeted to commence operations by the third quarter of 2026, with a specialisation in low-carbon electric arc furnace steel.
