The Philippines-based steel producer SteelAsia Manufacturing Corporation has announced that it has been granted a “green lane” endorsement by the country’s Department of Trade and Industry for its multi-billion-peso section mill project in Lemery in the province of Batangas. The given endorsement can expedite the processing and issuance of permits and licenses for the project.
The project, which has an initial investment cost of PHP 19.3 billion ($340.42 million), will have an annual capacity of 500,000 mt.
The mill is expected to start operations in July 2024 and will create employment for 600 people.