【SMM Steel】IFC Considering $80 Million Financing to Upgrade Green Esteel Steel Plant in Malaysia

Published: Jan 14, 2026 11:54

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【SMM Steel】The International Finance Corporation recently stated that it is considering providing up to $80 million in financing to Singapore-based Green Esteel to support the modernization of its Eden Flame integrated steel plant in Malaysia. The proposed funding would be used to replace aging equipment, install a new electric arc furnace, upgrade rolling facilities, and provide additional working capital. The project also includes the construction of a new steelmaking and rolling complex equipped with continuous casting and comprehensive emission control systems, aimed at improving energy efficiency and operational performance. Once fully upgraded, the facility is expected to achieve annual capacities of 600,000 tons of crude steel and 600,000 tons of rebar. Construction is scheduled to commence in early 2026, with commercial operations targeted for September 2026.

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