KLANG: Metrod Holdings Bhd, a leading copper rod manufacturer, injected RM1.1 billion to undertake a 6,300 metres plant expansion, hence emerging as the single largest copper rod plant with a capacity exceeding 300,000 tonnes in South East Asia.
With the new capacity, Malaysia will be able to consolidate its position as an industry leader in the region.
Metrod manufactures copper rods, wires, strips and profiles, widely used in the production of cables, automotives, magnet wires, welding wires, transformers and in lightning protection systems.
President/chief executive officer Rajan Mittal said the plant was adjacent to its existing manufacturing facility and the RM1.1 billion investment also included capital expenditure and working capital for day-to-day operations, he said in his speech before the launch of the new plant by Prime Minister Tun Dr Mahathir Mohamad at the Bukit Raja Prime Industrial Park here today.
“With increased manufacturing capacity, Metrod is in a good position to expand its market portfolio and capitalise on the growing demand for copper, globally.
“We decided to expand our operations in Malaysia over other options in Asia due to this country’s business-friendly environment and the policies of the Malaysian government.
“This project is being launched at a very appropriate time in support of the government’s agenda of adopting and promoting Industry 4.0,” Mittal added.
The new plant is fitted with cutting-edge technology from the United States and advanced process controls to ensure product quality.
Metrod began operations in 1981 and was listed on the main board of Bursa Malaysia in 1996.
—BERNAMA