German plantmaker SMS Group has announced that it will modernize the Philippines-based steel producer SteelAsia Manufacturing Corporation’s Calaca steel mill.
The modernization works will enable SteelAsia to increase output by 20 percent and reduce its carbon footprint significantly by utilizing 100 percent renewable energies.
SteelAsia operates five other manufacturing plants, in Bulacan, Cebu, Davao and Misamis Oriental. The company is set to open a seventh plant this year in Cebu and to increase its output from an annual two million mt of rebar to three million mt.