The construction of the country’s largest and most modern steel plant of the Philippines’ largest steel manufacturer has been completed.
Construction cost of SteelAsia Davao’s steel mill was pegged at P3 billion.
The plant has an annual capacity of 500,000 metric tons of rebars, a significant portion of SteelAsia’s 2 million metric tons rolled out from its 6 plants. The country’s demand of for steel rebars is 3.3 million metric tons in 2014.
The lauch of SteelAsia’s Davao plant is expected to ease cost of construction in Mindanao as rebars would no longer be shipped from Manila. As it reduces construction cost for Mindanao projects, the presence of SteelAsia’s Davao steel mill also helps disperse economic activity throughout the country and decongests Manila ports.
SteelAsia has 3 plants in Luzon, one in the Visayas, and two in Mindanao, including the new Davao plant, which features modern environmental protection such as use of 100% recycled water through its rainwater collection system and its closed lubrication system ensures no seepage of used oil to surrounding areas.