LOCAL steel producer SteelAsia Manufacturing Corp. has exported over 36,000 metric tons (MT) of steel bars for infrastructure construction in Canada.
The company said in a statement over the weekend that the high-strength steel bars will be used for Canadian infrastructure and were manufactured via green steel production methods.
According to SteelAsia, the latest figure is the company’s fifth shipment, bringing the total value of its exports to $24 million or around P1.32 billion.
“We have broken through the first world market where quality and performance standards are the highest. We have invested in the best available technology to produce the highest quality steel products and these shipments are our initial reward, and a validation of our reliability and capability,” SteelAsia Chair and Chief Executive Officer Benjamin O. Yao said.
SteelAsia said it had been utilizing geothermal energy to recycle steel scrap into high-value, infrastructure-grade steel bars.
“This technology not only supports the Philippines’ infrastructure program but also promotes sustainability in steel production,” the company said.
Meanwhile, Mr. Yao said there is an opportunity for the Philippines to have its local integrated steel industry that will spark new industries such as the production of ships, cars, and appliances, as well as provide support to other sectors like construction and housing.
SteelAsia said the country currently imports most of its steel needs, which can be solved by investing in a local steel mill, Mr. Yao.
“In the Philippines, we export our resources such as steel scrap and iron ore, then import back finished steel products. This is a tragedy because the value and the jobs are created in another country and, in the meantime, the Philippines is import-dependent,” Mr. Yao said.
“We need job creation here, and that’s what having our own steel industry does,” he added.
SteelAsia currently operates three steel mills in Luzon, two in Visayas, and one in Mindanao. — Revin Mikhael D. Ochave