Friday, February 12, 2010
Vale aims to build giant Malaysian ore terminal
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Kuala Lumpur: Discussions on the proposed opening of an iron ore production and distribution hub in Malaysia by Brazil’s Vale SA are at the final stage and construction work for the 8.5bn Ringgit (US$2.51bn) project is expected to begin soon. The investment is designed to enlarge Vale’s market presence in Asia once the distribution centre is up and running some three years from now. Vale believes the project in Teluk Rubiah, Lumut, could start this year.
Kuala Lumpur: Discussions on the proposed opening of an iron ore production and distribution hub in Malaysia by Brazil’s Vale SA are at the final stage and construction work for the 8.5bn Ringgit (US$2.51bn) project is expected to begin soon. The investment is designed to enlarge Vale’s market presence in Asia once the distribution centre is up and running some three years from now. Vale believes the project in Teluk Rubiah, Lumut, could start this year.
