SteelAsia invests P30B in Quezon plant
Provided by Philippine Daily Inquirer.
MANILA, Philippines — SteelAsia Manufacturing Corp., one of the country’s largest producers of steel products, is investing P30 billion in a new manufacturing plant in Candelaria, Quezon, with the new facility aimed at producing heavy structural steel products.
In a statement on Wednesday, the company said that the plant was scheduled to start operations by 2027.
READ: SteelAsia ships P511.24M worth steel bars to Canada
“We will create around 7,000 jobs instead of giving jobs to China, Vietnam, Thailand, Korea and Japan, our major suppliers,” said SteelAsia chairman and chief executive officer Benjamin Yao.
“Our carbon footprint will also be 90 percent lower than the traditional steelmaking process because we use recycled scrap metal,” he added.
According to SteelAsia, this planned heavy sections plant will use the latest European steel technology to produce over 1 million tons of structural steel products, such as H beams, I beams, angles, sheet piles and plates.
Faster delivery
Additionally, the company said that once the Candelaria plant becomes operational, delivery time will be shortened from three months to four months for imported steel products to just one to two weeks.
“This is a game changer initially for the construction and infrastructure sector since this means quicker project completion and lower costs,” said Yao.
The engineering, procurement and construction management for the plant has been awarded to MCC Huatian Engineering & Technology Co. Ltd., which SteelAsia said was a global leader in this kind of construction project.
According to the China-based firm, it has built over 230 steel plants with a total installed capacity of over 200 million tons in 14 countries.
“In steel manufacturing, we cannot compromise on technology and know-how because we are committed to producing the best steel products,” Yao said, highlighting their confidence in the construction firm.
(2025/01/23-02:24)
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