MANILA – SteelAsia Manufacturing Corp. said it recently shipped more than 36,000 metric tons of steel bars which will be used in infrastructure construction in Canada.
In a statement over the weekend, SteelAsia said the latest shipment is SteelAsia’s fifth export, bringing the total value of its exports to PHP1.32 billion.
SteelAsia said the steel bars were produced using green steel production methods.
Using geothermal energy, the company recycles steel scrap into high-value, infrastructure-grade steel bars.
“We have broken through the First World market where quality and performance standards are the highest,” said SteelAsia chair and CEO Benjamin Yao.
“We have invested in the best available technology to produce the highest quality steel products and these shipments are our initial reward, and a validation of our reliability and capability,” Yao added.
Yao earlier said the Philippines should have its own integrated steel industry that will help create new industries and businesses such as those that produce ships, cars, and appliances.
At present, the Philippines imports most of its steel needs.
“In the Philippines, we export our resources such as steel scrap and iron ore, then import back finished steel products. This is a tragedy because the value and the jobs are created in another country and, in the meantime, the Philippines is import-dependent. We need job creation here, and that’s what having our own steel industry does,” Yao said.
SteelAsia currently operates three steel mills in Luzon, two in the Visayas, and one in Mindanao. (PNA)
