The Philippines’ largest steel producer, SteelAsia Manufacturing Corporation, 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 January 30, amounting to P1.1 billion or around $19 million.
The exported steel products came from SteelAsia’s facility in Davao City.
SteelAsia’s total shipment to the Vancouver subway project has reached 87,000 metric tons, amounting to P3.2 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 Benjamin Yao said.
Last year, Yao announced a P65-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 P30 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)
