After debacle with IISMI, Jacintos, sale to private company Westmont, foreclosure by local govt
Since then we import steel from abroad: we mine the ore send to foreign countries, and import steel at a much higher price
A new plant will be built in Sibugay, creating about 20,000 jobs with capacity for 1 million metric tons of steel capacity
This will help us build our manufacturing capability and join industrialization march of other nations.
There is news that a Cebu steel Steel Asia mill will invest about PHP 65 billion to invest in new steel mills. They have been exporting steel to Canada, billion php worth, after supplying steel products to Cebu Cordova bridge project.
They will have the plants in Davao, Tarlac, and Quezon They have 6 plants in the Philippines with
capacity for 3 million metric tons.
This will help lift Philippines to be a trillion $ economy
