Vale SA to invest RM14b in iron project

Friday, Janurary21, 2011
Vale SA, the world’s largest iron ore producer, will invest about 14 billion ringgit ($4.6 billion) on its proposed trans-shipment project in Malaysia’s Perak state, Zambry Abdul Kadir, the state’s chief minister said in a telephone interview today.
“They have already completed the land acquisition and are expected to start construction work around July and the entire project will be done in phases,” said Zambry. The investment may be over a period of about 10 years, he said. -- Bloomberg