Establishing in the Philippines
Starting its business operations since 1965, SteelAsia has continued expanding its production, from 279,000 tons of rebar produced in 2006 to 1.2M tons in 2013, capturing nearly half of the rebar market share in the Philippines. Rebar is seen as an important backbone component of a growing economy with a steadily increasing number of construction projects in the country, such as transport infrastructure, residential buildings, industrial plants, and tourism infrastructure. SteelAsia adapted a philosophy of establishing modern steel plants, with technologies at par with world-class standards. Currently, it has six steel plants in operation for rebar production. These six steel plants are strategically located in the three major island groups of the Philippines in order to adequately and cost-efficiently cater the different regional steel demands.
In line with the company’s mission to provide world-class products and services to its customers, as well as to support country development, SteelAsia is determined to meet country growth by establishing two new additional plants. One of the new plants under construction is a 130-million dollar investment in Plaridel, Bulacan, for a rebar mill with a 1.2-million tons annual capacity targeted to operate in mid-2015. This mill will address steel bar needs for upcoming infrastructure development. The other project is an 800 thousand ton per year mill in Cebu with a 100-million dollar investment. The Cebu mill, which is set to operate by the start of 2016, will augment SteelAsia’s existing Visayas capacity, in anticipation of steel demand for the Visayas reconstruction. In order to maintain its competitive edge in the business, SteelAsia continues acquiring world-class technology that it can utilize in its existing plants that allows it to lower the cost of production (through the reduction of material waste, power consumption and fuel consumption), and ensure the quality and safety of its rebar products. The company follows best practices in the industry to be at par with the best of the world.
“What’s holding back Philippine industry development is a lack of investment. SteelAsia, as the leader in the Philippine steel industry, supports country development by meeting demand for steel with capacity expansions in centers of growth throughout the country, and by utilizing the most modern technologies to provide world-class rebar to the Filipinos at the lowest possible cost..”
Rafael C. Hidalgo
Vice President, Corporate Development
SteelAsia Manufacturing Corp.