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Singapore-based HG Metal Manufacturing Ltd. announced on December 10th that it has agreed to acquire a stake in Malaysian green and low-carbon steel company Eden Flame Sdn. Bhd.
According to HG Metal's statement, Eden Flame's electric arc furnace facility in Johor, Malaysia, is expected to commence operations in the third quarter of 2026. M130-30S Grain oriented electrical steel, The plant has an estimated annual capacity of 500,000 tons and will initially primarily produce 10-40 mm rebar.
HG Metal stated that the transaction aligns with Singapore's carbon tax policy and the "Singapore 2030 Green Plan," which is accelerating demand for more environmentally friendly building materials.
"This upstream investment will not only provide us with a reliable and competitive source of green, M130-30S Grain oriented electrical steel, low-carbon steel, but will also help HG Metal position itself for the future, as demand for green, low-carbon steel continues to grow in Singapore and other parts of Southeast Asia," said the CEO and Executive Director of HG Metal in a statement.
Both Eden Flame and HG Metal are subsidiaries of Singapore-based Green Esteel Pte. Ltd.
