Philippines’ SteelAsia to establish 4 new facilities in Luzon & Mindanao
Time:Mon, 03 Jun 2024 09:35:43 +0800
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SteelAsia Manufacturing Corp., the Philippines’ largest steelmaker, announced a PHP 65 billion investment to establish four new production facilities in Luzon and Mindanao, creating 3,000 direct jobs over the next three to four years.
These new plants aim to meet at least 70% of local steel demand. Currently, 86% of the country’s steel is imported. The new facilities will produce steel products not currently manufactured in the Philippines, such as H-beams, I-beams, wire rods, sheet piles, and billets. These expansions will double SteelAsia’s capacity to nearly 6 million metric tons by 2027.
