SunStar Publishing Inc.
A Steel mill of the SteelAsia Manufacturing Corp. in Compostela, northern Cebu is poised to supply rebar for crucial infrastructure projects in the Visayas and Mindanao, including bridges, roads, airports seaports and flood control systems. President Ferdinand Marcos Jr. led the opening ceremony of SAMC’s newest plant on Tuesday, July 9, 2024. “Steel is the back hope of many industries. Many industries depend on still on their further development”, Marcos said in his speech.
The construction of the steel mill was funded by a loan from the Development Bank of the Philippines. The project aligns with the Marcos administration’s prioritization of investment in the steel industry. The mill’s 10-megawatt energy requirement is supplied by geothermal renewable energy from First Gen, addressing the global trend to decarbonize the steel industry.
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