MANILA – The flourishing infrastructure activities in the Philippines supported the increasing production of SteelAsia Manufacturing Corp., the largest steel producer in the country.
SteelAsia reported that the production of the reinforcing bars from its six production sites in the country from January to June 2018 exceeded the mark-up of one million tonnes (MT).
SteelAsia said that total production in the first half of 2018 increased by 11 percent to 1,023 million tons of bars of 925,503 tons in the same period last year.
"We are fortunate enough to be able to take advantage of the current explosion of infrastructure." With continued economic growth, we believe that SteelAsia will continue to grow and serve more customers along with the entire steel industry, "said Chairman and Chief Executive Officer Benjamin Yao. SteelAsia at the weekend.
Of the six production sites in the country, the Meycauayan plant produced the largest number of steel in H1 2018 to 271,329 tons. These were delivered to Metro Manila as well as Central and Northern Luzon.
The production of his Davao plant accounted for 257,032 MT of total production, while the plant in Calaca, Batangas, produced approximately 255,174 MT.
The second SteelAsia plant in Meycauayan City in Bulacan, Carcar, Cebu and Villanueva, Misamis Oriental, provided the balance of the total bars produced in the first semester of the year.
In addition, Yao reported that the company has started construction of its seventh steel plant in Compostela, Cebu as part of its five-year expansion plan in the country.
SteelAsia invests PHP100 billion for the aforementioned expansion program.
Apart from the factory in Cebu, Yao added that SteelAsia is starting construction for another two facilities in central and southern Luzon.
"We deliberately bring our plants closer to our customers so that we can offer our customers the best price and service with just-in-time delivery and at the same time help create more jobs for our rural people," Yao said.
"These investments focus on basic sectors to replace imports and create links to support infrastructure development and downstream industries," he added. (PNA)