Chinese private steelmaker Panhua Group will launch a $3.5 billion steel plant in Maasim, Sarangani Province, the Philippines by the first quarter of 2025, according to media reports. The plant, which will consist of three phases, will annually produce 10 million mt of galvanized steel, color-coated steel coil, steel slab and billet.
The company started the construction of the first phase of the steel plant in 2019, as SteelOrbis previously reported. The first phase of the project will have an annual billet capacity of two million mt and is scheduled to be operational in the first quarter next year. The project includes construction of two 60-ton converters, two 60-ton LF-type refining furnaces and two 2-strand slab casters.
Upon completion of the project, the integrated steel plant will not only play an important role in promoting industrial cooperation and economic exchanges between China and the Philippines but will also provide sufficient raw materials for Panhua Group’s domestic hot-rolling and cold-rolling production activities.
