PETALING JAYA: KINSTEEL BHD
has proposed to form a joint venture (JV) in which it will own 45% with a China partner Tianjin Qiangbang Industrial Co Ltd (TQI) to operate a steel plant in Gurun, Kedah.
The proposal which had been proposed through a letter of intent (LOI) will see the PN-17 company leading the joint venture while TQI will have a 40% stake in the operations of the plant.
Kinsteel told Bursa Malaysia that another 15% will be owned by a Malaysian partner that will be identified later on.
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