|
The Board of Investments (BoI) on Friday said it had awarded a green lane certificate to Real Steel Corp.’s (RSC) steel bar production facility project in San Simon, Pampanga.
“With an investment cost of P10.3 billion, the reinforcing steel bar production facility is expected to be fully operational in December 2024,” the BoI said in an e-mailed statement.
Under Executive Order No. 18, green lane endorsements ease the approval and registration processes for strategic investments.
The RSC steel mill will use local recycled scrap and full automation, seeking to provide 480 jobs for Filipinos, the Trade department said.
“It is crucial for steel, a key product for nation-building, to be entirely sourced and produced within the country,” it added.
“BoI prioritizes the creation of integrated steel mills, utilizing local resources such as steel crap and relying less on important billets,” said Marjorie Ramos-Samaniego, BoI governor.
The project will feature an efficiency boost with its electric arc furnace technology, generating 23 megawatts of renewable energy, the Trade department said.
According to the BoI, the Philippines has ranked 20th among the top importers of steel globally due to the lack of steel manufacturing players in the country.
The country imported $5.23 billion worth of iron and steel last year, according to the United Nations Comtrade database.
The Trade department has anticipated the increase in steel demand and consumption in the Philippines to support the government’s Build Better More program.
“[The] local production of reinforced steel bars, wire rods, and spooled coils using recycled steel scrap will minimize waste and significantly lower the cost of prefabrication materials,” it said on the need for local sustainability investments.
“Such an approach aims to make housing more affordable for every Filipino,” it added.
The green lane promotion will boost more investor interest, alongside domestic production capability and self-sufficiency, the RSC noted. — Miguel Hanz L. Antivola
金屬板材展-線材展-金屬加工展-2024第二十四屆廣州國際金屬板材、棒材、線材及金屬加工、配套設備展-THE 24th CHINA(GUANGZHOU) INTERNATIONAL PLATEMETAL, BAR, WIRE, METAL PROCESSING & SETTING EQUIPMENT EXHIBITION
2024金屬板材展，2024金屬板材展會，2024金屬板材展覽會，2024金屬板材展會信息，2024廣州金屬板材展，2024廣州金屬板材展會，2024 廣州金屬板材展覽會，鋼板展，鋼板展會，鋼板展會信息，2024鋼板展會，2024廣州鋼板展會，彩鋼板展，彩鋼板展會，彩鋼板展覽會，2024彩鋼板展，2024彩鋼板展覽會，2024彩鋼板展會，2024廣州彩鋼板展，2024廣州彩鋼板展會，2024廣州彩鋼板展覽會，2024廣東彩鋼板展， 2024廣東彩鋼板展會，2024廣東彩鋼板展覽會，2024中國金屬板材展，2024中國金屬板材展會，2024中國金屬板材展展覽會，2024線材展，2024材展會，2024線材展覽會，2024廣州線材展，2024廣州線材展會，2024廣東線材展，2024廣東線材展會，2024中國線材展，2024中國線材展會，2024線材博覽會，2024金屬加工展，2024金屬加工展會，2024金屬加工展覽會，2024廣州金屬加工展，2024廣州金屬加工展會，2024廣東金屬加工展，2024廣東金屬加工展會，2024中國金屬加工展，2024中國金屬加工展會，2024金屬加工博覽會-plate metal Industry Exhibition,plate metal expo, 2024 plate metal exhibition, 2024 plate metal expo, China plate metal exhibition, China plate metal expo,plate metal Industry event,plate metal event, 2024 plate metal event, 2024 plate metal event, China plate metal event, China plate metal event,wire Industry Exhibition,wire expo, 2024 wire exhibition, 2024 wire expo, China wire exhibition, China wire expo,wire Industry event,wire event, 2024 wire event, 2024 wire event, China wire event, China wire event
|
