The Chinese firms will invest more than US$1.6 billion to build steel, aluminum and palm oil processing plants and to expand a port in a new industrial zone on the Malaysian east coast.
This is a part of total joint investments of US$3.5 billion expected by 2020 in the new Kuantan Industrial Park as Beijing is keen to strengthen diplomatic, cultural and economic influence in recent years with Southeast Asian nation to push its territorial claims in South China Sea.
Malaysia Prime Minister, Najib Razak said it has been enhancing economic and diplomatic cooperation with China and Chinese innovation and domestic demand have been recognized as prove in the global economy.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62963&division=A9
