Tuesday, October 1, 2019

Around 30,000 Jobs Soon To Open in Misamis Oriental for Steel Plant

The steel plant will be located in PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental, and it will have an annual capacity of 10 million tons per year of steel slabs and galvanized color coated steel coil, among others.
Around 30,000 Jobs Soon To Open in Misamis Oriental for Steel Plant
The Chinese steel company eyes to start construction this year
Around 30,000 Jobs Soon To Open in Misamis Oriental for Steel Plant
The Chinese steel company eyes to start construction this year
Panhua Group Co. Ltd., expects to create up to 30,000 job as the Chinese steel company eyes to start construction on its 300-hectare integrated steel manufacturing plant in Misamis Oriental by the end of this year. This is according to an article published in Philippine News Agency this month.

The steel plant will be located in PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental, and it will have an annual capacity of 10 million tons per year of steel slabs and galvanized color coated steel coil, among others.

Panhua Group Board Chairman and Chief Executive Officer Xinghua Li said bulk of their production will supply the local market, particularly the government’s “Build, Build, Build” (BBB) infrastructure program; while a portion going to export markets such as European Union, United States, and Russia, Philippine News Agency reports.

The company will invest $3.5 billion over the next three years for the project’s first phase creating up to 30,000 jobs. Accordingly, there will be a phase 2 and 3 for the said massive project.

TALKING POINT
“We have (also) Phase 2 and Phase 3 for this steel plant so there will be more capacity, more production to cater the local market,”
CEO Xinghua Li
(The above quote is said through an interpreter during Philippines-China (Chongqing) trade and investment forum. You can read the entire article HERE.

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