BOI governor Marjorie Ramos-Samaniego awards the certificate of endorsement Benjamin Yao, chairman and CEO of Steel Asia in a brief ceremony at the BOI main office in Makati City on Sept. 15, 2023.
The project, with an initial investment of P19.3 billion, is expected to start operation in July 2024, employing 600 personnel and workers from the local town and nearby areas. The project is the greenfield design, erection and commissioning of the Philippines’ first sections of production: a state-of-the-art hot-rolling production line with an upstream integrated recycling-based steelmaking.
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