A Hitachi spokesman declined to confirm the report, saying it was not something it announced.
The two Southeast Asian nations - big steel importers with fast-growing economies - are ideal markets for these induction furnaces, or IFs, that produce cheaper steel.
QP could carry out the project alone, with no international oil company at its side, if no good offers were made.
The company anticipated the restructuring effective date will occur on December 19.
The ban, which became a source of friction in Sino-U.S. trade talks, was lifted in July after ZTE paid $1.4 billion in penalties, allowing the firm to resume business.
Shortly after the Chinese announcement, Tesla Inc said it had cut prices on its Model S and Model X vehicles in China.
U.S. West Texas Intermediate (WTI) crude futures were at $52.66 per barrel at 0140 GMT, down 23 cents, or 0.4 percent, from their last close.
Apart from Low Taek Joh, arrest warrants were issued against four others who have left Malaysia.
Trump, via Twitter, held out the possibility of an extension of the ceasefire but warned tariffs would be back on the table if the talks failed to bear fruit.
U.S. West Texas Intermediate (WTI) crude futures were at $53.78 per barrel at 0300 GMT, up $2.85 per barrel, or 5.6 percent from their last close.
Ministry of Finance (MOF) data out on Monday showed capital expenditure grew 4.5 percent in July-September from the same period last year.
US has become sensitive to criticisms after President Donald Trump has imposed tariffs not only on $250 billion of Chinese goods but also on steel and aluminum imports
India was looking for renminbi-rupee to buttress its exports and check the arresting state of increasing the trade deficit.
Both countries agreed they will try to have this "transaction" completed within the next 90 days.
The two-day summit discussed issues such as the future of work, infrastructure for development, financial stability, climate sustainability and international trade, among others.