Malaysian steel industry roadmap aims for "fully green" sector by 2050

KUALA LUMPUR, Sept 29 (Reuters): Malaysia is planning a revamp of its steel industry that aims to manage overcapacity, restructure licensing and prepare for decarbonisation with a goal of achieving a "fully green" sector by 2050, trade minister Tengku Zafrul Aziz said on Monday.

The 10-year roadmap includes establishing clear licensing guidelines for manufacturers, implementing a carbon pricing and transparency framework, and expanding access to finance for the transition to green and higher value-added production.

Tengku Zafrul said steel was one of Malaysia's most carbon-intensive industries, exposing it to regulatory market barriers and making decarbonisation a necessity.