The Philippines’ largest steel producer, SteelAsia Manufacturing Corp., made a fresh shipment of steel to Canada for the North American subway project.
In a statement over the weekend, SteelAsia said it exported 32,000 metric tons of high-strength reinforcing steel for a subway project in Vancouver, Canada on Jan.30, amounting to PHP1.1 billion or around USD19 million.
The exported steel products came from SteelAsia’s facility in Davao.
SteelAsia’s total shipment to the Vancouver subway project has reached 87,000 metric tons, amounting to PHP3.2 billion.
“We have repeat orders from the same buyer and project, a vote of confidence in our reliability as a supplier and in the quality of our products. Locally, it is the same for us since the top developers are our biggest loyal customers,” SteelAsia chair and chief executive officer Benjamin Yao said.
Last year, Yao announced a PHP65-billion investment plan, building four new manufacturing facilities in Luzon and Mindanao.
Recently, it affirmed its investment in the Candelaria plant in Quezon province, with the company eyeing to pour in PHP30 billion to produce heavy structural steel products, which are being imported from neighboring countries China, Vietnam, Thailand, South Korea and Japan.
Four upcoming facilities of SteelAsia will double its capacity to 6 million metric tons from the 3 million metric tons it currently produces. (PNA)
