Huili Investment Fund Management Co. Ltd (Huili Fund) is set to pour in US$4 billion for the Philippines’ first fully integrated steel mill to be located in Phividec, Villanueva, Misamis Oriental. The first phase shall have an estimated annual output of about 5 million tons.
This investment shall generate approximately 10,000 direct hires employment from the region. Upstream and downstream industries shall generate about 40,000-50,000 jobs.
Huili Baowu CISDI Integrated Steel Mill (HBCIS), Philippine’s first fully integrated steel mill, is formed by China’s three leading companies – Huili Fund, Baowu Steel Group Corporation Ltd (China Baowu), and China Mettalurgical Group Corporation’s subsidiary, CISDI Group Co Ltd. (CISDI).
China Baowu, the new technical partner to operate the steel mill, currently ranks first in China and second in the world as the largest steel producer in the world measured by crude steel output. China Baowu uses state-of-art, green and intelligent technology in its steel plants.
CISDI shall design the steel mill. And A Brown Company, Inc.’s subsidiary, Simple Homes Development, Inc., is partnering with Huili Fund for the land lease with option to purchase the 600-hectare property at the Phividec Industrial Estates. This new investment in Mindanao is foreseen to create a new industrial city which translates to economic boom with the introduction of institutional facilities such as housing and condominium, commercial mall, restaurant, and accommodation facilities in the area.
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