Panhua Group to invest in building comprehensive steel mill in the Philippines
2019-09-24 17:21:31 [Print]
China-based Panhua Group signed a MOU with PEZA recently, planning to invest USD3.5 billion in the construction of the phase one project of a comprehensive steel mill in Misamis Oriental in the Philippines.
According to the chairman of Panhua Group, they will start the construction of the phase one project immediately after obtaining the land in PHIVIDEC Industrial Park. The steel mill will cover about 300 hectares and is expected to go into operation three years later. With a designed annual production capacity of 10 million ton, the steel mill will mainly produce steel plates and galvanized steel products and will sell its products to customers from the Philippines, European Union, USA and Russia.
According to the chairman of Panhua Group, they will start the construction of the phase one project immediately after obtaining the land in PHIVIDEC Industrial Park. The steel mill will cover about 300 hectares and is expected to go into operation three years later. With a designed annual production capacity of 10 million ton, the steel mill will mainly produce steel plates and galvanized steel products and will sell its products to customers from the Philippines, European Union, USA and Russia.
