You are here: Home > Steel News > Latest Steel News > Philippines’...

Philippines’ SteelAsia to build five new steel plants to increase output

Thursday, 25 July 2024 11:34:16 (GMT+3)   |   Istanbul
       

The Philippines-based steel producer SteelAsia Manufacturing Corporation plans to invest PHP 82 billion ($1.39 billion) to build five new steel plants over the next four years, according to media reports. The new plants will produce a wide range of steel products, such as wire rod, billet and sections, that are currently imported into the country.

The plants, which will be located in Batangas, Quezon, Davao City, and Tarlac, will increase the company’s annual output by 2.2 million mt. The first three plants are expected to be completed by 2026 and the last two plants are scheduled to be completed in 2027.

SteelAsia currently operates six plants in Batangas, Bulacan, Davao, and Cebu, with an annual finished steel capacity of three million mt.


Similar articles

Turkey halves custom duties on billet, wire rod and bars imported from Azerbaijan

27 May | Steel News

Philippines’ SteelAsia to invest in four new plants to diversify product range

27 May | Steel News

India’s RINL floats export tenders for 90 mm billets and wire rods

17 Nov | Longs and Billet

Russia officially imposes export duties for most steel and raw materials until end of 2024

21 Sep | Steel News

India’s RINL floats export tenders for billet and wire rod for November shipment

18 Sep | Longs and Billet

Turkey’s Kaptan Demir Celik produces first wire rod at new mill

04 Sep | Steel News

Ex-ASEAN billet exporters still insist on higher offers after sales accelerate

01 Aug | Longs and Billet

Ex-ASEAN billet offers down further, in line with latest sales to Asian customers

04 Jul | Longs and Billet

India’s RINL floats export tenders for billet and wire rod, failing to close them last week

06 Apr | Longs and Billet

UAE billet market improves in line with more positive longs trade

23 Feb | Longs and Billet