Philippines-based Mount Zynai Mining Corporation and Chinese company Shenzou Investor Cooperation will jointly build an industrial park complex in Zamboanga which will include the country’s first integrated smelting and steel plant, according to media reports.
The plant, which has an investment of $1 billion, will produce 1.5 million mt of steel bars annually by processing ore from a mining site in Zamboanga.
The integrated smelting and steel plant is scheduled for partial operation within two to three years.