Philippines’ First Integrated Steel Mill will soon rise at the PHIVIDEC Industrial Estate in Misamis Oriental, announced PHIVIDEC Industrial Authority Administrator Atty. Franklin Quijano. China’s Huili Fund teams up with the CISDI Group Co. and Philippine-owned Simple Homes Development, Inc. for the project.
The steel mill shall stand on the property for lease with option to purchase awarded to Simple Homes Development, Inc., a subsidiary of A Brown Co. Inc. (ABCI), a publicly listed company with major investments in REAL ESTATE, POWER GENERATION, LNG REGASIFICATION TERMINAL PROJECT, AGRICULTURE AND MINING.
Realizing the vision of the Philippine President Rodrigo R. Duterte, this investment gives rise to having a globally competitive integrated iron and steel industry. As what President Duterte said during the early years of his presidency, “Lutoa pud ninyo ang yuta nga inyong ibaligya sa laing nasud oy! (Please process first the soil that you sell to other country!)”. This was the line that Atty. Quijano quoted in the pursuit of the Integrated Steel Mill Project. For him, it was a marching order.
This is a tremendous contribution to the Build Build Build program of the national government, as we cannot build a country without steel, Quijano underscored. The world is shrinking, but we are expanding with the introduction of the integrated steel mill, he added.
The integrated steel mill makes a significant contribution to employment generation and economic growth not only in Northern Mindanao but the country as a whole. This will support the Balik Probinsya Program of the Government. The construction phase is set to generate around 10,000 to 30,000 jobs. While regular operations command 3,000 employees.
The Project will cost around USD 4.9 Billion inside a 400-hectare land area and will produce an approximate 5 Million Tons Per Annum of Flat Products such as steel plates, and Long Products such as billets, round bars, and wires. The Project shall commence upon signing of Agreements.
Aerial photo shows the location of the First Integrated Steel Mill.
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