Warisan to GRS: RM31bil steel project based on assumptions?
Warisan assemblyperson Calvin Chong questioned how the project schedule for the RM31 billion Esteel Enterprise Sabah Sdn Bhd steel manufacturing plant was made based on assumptions.
In a statement yesterday, he accused Sabah Industrial Development and Entrepreneurship Minister Phoong Jin Zhe of misleading the public.
'Phoong said the original schedule for the Esteel Enterprise project, with a total investment of RM31 billion, was...
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Free Malaysia Today
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Phoong's aide dares Warisan rep to raise steel project delay in state assembly
Sabah industrial development minister Phoong Jin Zhe previously said the delay in the RM31 billion steel project was due to setbacks in obtaining the necessary approvals and securing a supply of natural gas. (Facebook pic) PETALING JAYA : An aide to Sabah industrial development minister Phoong Jin Zhe has challenged Elopura assemblyman Calvin Chong to raise his concerns on the delayed RM31 billion Esteel Enterprise steel project in the state assembly. Chan Loong Wei said the upcoming state assembly is the right platform for the Warisan rep to voice out any issues he has with the project as an elected representative. 'If he is genuinely curious or wishes to seek accountability, I challenge him to raise this matter in the upcoming state assembly sitting,' he said in a statement. Chan, who is Phoong's political secretary, said Esteel Enterprise is a company that is owned by a credible Singaporean businessman, who also owned a Top 100 Private Company in China in 2023. 'They (Esteel) have real credentials and real capital. In fact, their acquisition of Southern Steel Bhd in Penang in October 2024 was widely reported in Sin Chew Daily and other business media,' he added. He said that Phoong remains committed to driving inclusive economic growth, creating decent-paying jobs for Sabah youths and turning the state into a competitive, investor-friendly region. Earlier today, Chong slammed Phoong's explanation of the delays in the Esteel Enterprise steel project, calling it 'misleading and irresponsible'. He also asked how such a major project could be announced in November 2022 without confirmed approvals, especially given the federal moratorium on manufacturing licences for the steel industry at the time. Chong called for the state government to disclose all agreements and terms involving Esteel Enterprise, saying the public deserved full transparency on a project of such scale. He also questioned the delay in implementation, noting that the manufacturing licence was only approved in January 2025, more than two years after the project was announced. On Monday, Phoong said the delay in the RM31 billion steel project was due to setbacks in obtaining the necessary approvals and securing a supply of natural gas. He said the initial projection for Esteel Enterprise's factory to begin operations in the fourth quarter of this year was based on the assumption that approvals would be obtained without delay. However, he said Putrajaya's two-year moratorium on manufacturing licences for steel-related industries created complications, with special approval only granted on Jan 24, 2025.
Daily Express
13 hours ago
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Sabah rep slams minister's explanation of RM31 billion steel project delay
Published on: Thursday, June 05, 2025 Published on: Thu, Jun 05, 2025 By: FMT Reporters Text Size: Sabah assemblyman Calvin Chong said the state government should reveal all agreements with Esteel Enterprise Sabah Sdn Bhd as the public have a right to know the full details of such a major project. (Bernama pic) PETALING JAYA: A Warisan assemblyman has slammed Sabah industrial development minister Phoong Jin Zhe's explanation of the delays in the RM31 billion Esteel Enterprise steel project, calling it 'misleading and irresponsible'. Elopura assemblyman Calvin Chong also asked how such a major project could be announced in November 2022 without confirmed approvals, especially given the federal moratorium on manufacturing licences for the steel industry at the time. 'Phoong's statement that the project timeline was based on assumptions is baffling and irresponsible,' he said in a statement today. 'Does Phoong truly understand the scale and implications of a RM31 billion investment? This is not just the largest in Sabah's history. It is the largest in Malaysia since independence.' Chong called on the state government to disclose all agreements and terms involving Esteel Enterprise, saying the public deserved full transparency on a project of such scale. 'I support the investment if it can be verified in terms of implementation and financial capability. But all agreements between the government and the investors must be made public in a fair and transparent manner,' he said. He also questioned the delay in implementation, noting that the manufacturing licence was only approved in January 2025, more than two years after the project was announced. 'What happened to the thousands of job opportunities promised in November 2022?' he asked. On Monday, Phoong said the delay in the RM31 billion steel project was due to setbacks in obtaining the necessary approvals and securing a supply of natural gas. He said the initial projection for Esteel Enterprise's factory to begin operations in the fourth quarter of this year was based on the assumption that approvals would be obtained without delay. However, he said Putrajaya's two-year moratorium on manufacturing licences for steel-related industries created complications, with special approval only granted on Jan 24, 2025. Phoong also said the project cost was revised upward from RM20 billion to RM31 billion after the company factored in the cost of building the plant, jetty, and related facilities. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Free Malaysia Today
13 hours ago
- Free Malaysia Today
Sabah rep slams minister's explanation of RM31bil steel project delay
Sabah assemblyman Calvin Chong said the state government should reveal all agreements with Esteel Enterprise Sabah Sdn Bhd as the public have a right to know the full details of such a major project. (Bernama pic) PETALING JAYA : A Warisan assemblyman has slammed Sabah industrial development minister Phoong Jin Zhe's explanation of the delays in the RM31 billion Esteel Enterprise steel project, calling it 'misleading and irresponsible'. Elopura assemblyman Calvin Chong also asked how such a major project could be announced in November 2022 without confirmed approvals, especially given the federal moratorium on manufacturing licences for the steel industry at the time. 'Phoong's statement that the project timeline was based on assumptions is baffling and irresponsible,' he said in a statement today. 'Does Phoong truly understand the scale and implications of a RM31 billion investment? This is not just the largest in Sabah's history. It is the largest in Malaysia since independence.' Chong called on the state government to disclose all agreements and terms involving Esteel Enterprise, saying the public deserved full transparency on a project of such scale. 'I support the investment if it can be verified in terms of implementation and financial capability. But all agreements between the government and the investors must be made public in a fair and transparent manner,' he said. He also questioned the delay in implementation, noting that the manufacturing licence was only approved in January 2025, more than two years after the project was announced. 'What happened to the thousands of job opportunities promised in November 2022?' he asked. On Monday, Phoong said the delay in the RM31 billion steel project was due to setbacks in obtaining the necessary approvals and securing a supply of natural gas. He said the initial projection for Esteel Enterprise's factory to begin operations in the fourth quarter of this year was based on the assumption that approvals would be obtained without delay. However, he said Putrajaya's two-year moratorium on manufacturing licences for steel-related industries created complications, with special approval only granted on Jan 24, 2025. Phoong also said the project cost was revised upward from RM20 billion to RM31 billion after the company factored in the cost of building the plant, jetty, and related facilities.
