SteelAsia Manufacturing Corp., Philippines' leading steel manufacturer, will build a P30-billion plant in Candelaria, Quezon, to produce heavy structural steel, saving the country $1.2 billion annually.
SteelAsia Manufacturing Corp., the Philippines' leading steel manufacturer, is constructing a 30 billion Philippine peso plant in Candelaria, Quezon. This facility will specialize in producing heavy structural steel products, currently imported by the Philippines, and is projected to begin commercial operations by 2027. The plant is anticipated to save the country an estimated $1.2 billion annually.
SteelAsia recently awarded the Engineering, Procurement, and Construction Management (EPCM) contract for the plant to MCC Huatian Engineering & Technology Co., Ltd. \The new plant will utilize cutting-edge European steel technology to manufacture over one million tons of structural steel annually. This includes a wide range of products such as H beams, I beams, angles, channels, sheet piles, plates, and other heavy profiles. According to Benjamin Yao, Chairman and CEO of SteelAsia, this project is expected to generate approximately 7,000 jobs, keeping employment within the Philippines instead of relying on imports from countries like China, Vietnam, Thailand, Korea, and Japan. \Furthermore, SteelAsia emphasizes the plant's commitment to sustainability. Yao stated that the plant's carbon footprint will be 90 percent lower compared to traditional steelmaking processes. This reduction is achieved by utilizing recycled scrap metal and implementing electric arc furnace technology. SteelAsia aims to establish the country's first integrated steel industry, bringing the Philippines on par with its regional counterparts. The company also anticipates improved delivery lead times for projects, shortening them from 3 to 4 months for imports to just 1 to 2 weeks once the Candelaria plant is operational. Yao highlighted the significant impact this will have on the construction and infrastructure sector, enabling faster project completion and cost savings. SteelAsia selected MCC Huatian, a globally recognized leader and highly experienced engineering firm specializing in steel plant construction. With a proven track record of building over 230 steel plants across 14 countries, possessing a combined installed capacity of over 200 million tons, MCC Huatian was chosen for its expertise in this field. SteelAsia emphasizes the importance of technology and know-how in steel manufacturing, ensuring the production of high-quality steel products
STEELASIA STEEL MANUFACTURING HEAVY STRUCTURAL STEEL ECONOMY EMPLOYMENT
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