PANHUA GROUP, China’s leading integrated steel producer and exporter to the US, is set to invest a total of $3.5 billion for an integrated steel mill inside Phividec Industrial Estate in Misamis Oriental. The steel complex will manufacture steel products of various applications, complete with a modern port and a 300-hectare industrial park.
Philippine Economic Zone Authority (PEZA) Director-General Charito B. Plaza and Phividec Administrator Atty. Franklin Quijano together with other Philippine officials recently traveled to Panhua Group’s headquarters in Zhangjiagang, China and visited its steel mills. But the highlight of the mission was Panhua’s signing of a Memorandum of Understanding (MOU) with PEZA and Phividec for the multi-billion dollar project.
Shown below are PEZA Director-General Charito Plaza and Panhua Group’s top executive during the MOU Signing.
Here are photos during the Philippine delegation’s visit to Panhua’s steel plants in China.
Fingers crossed, this will become the country’s first integrated steel mill and will provide thousands of jobs in the region.