SteelAsia production hits record one million metric tons in H1


SteelAsia production hits record one million metric tons in H1


SteelAsia production hits record one million metric tons in H1

31 August 2018, Taguig City – THE COUNTRY’S leading steelmaker SteelAsia Manufacturing Corp. reached a record one million metric tons in the production of reinforcing steel bars or rebars in the first half of the year amid robust demand from both private and public infrastructure projects.


Total production from its six operating plants hit 1.023 million MT in the first six months of the year, jumping nearly 11% from 925,503 MT in the same period last year.


“We are fortunate to be able to ride on the current infrastructure boom. With sustained economic growth, we believe that SteelAsia along with the whole steel industry will also continue to grow and serve more customers,” said SteelAsia Chairman and CEO Benjamin Yao.


The biggest production came from SteelAsia’s steel mill in Meycauayan with 271,329 MT in the first half of the year. SteelAsia’s Meycauayan mill supplies rebars to Metro Manila and Central and Northern Luzon developments. This was followed by its manufacturing units - Davao Works with 257,032 MT and Calaca Works in Batangas with 255,147 MT output during the six-month period.  The balance was accounted for by its second mill in Meycauayan, Bulacan, Cebu Works in Carcar which serves the Visayas region, and second mill in Mindanao located in San Martin Villanueva, Misamis Oriental.


Yao said SteelAsia has started construction of a seventh plant in Compostela, Cebu to serve the growing consumption of construction steel in the Visayas region. He added that the company hopes to break ground for two more plants this year in Central and Southern Luzon.


“We are deliberately bringing our plants closer to our customers. That way, we can give our customers the best price and service with just-in-time delivery and at the same time, help create more jobs for our people in the countryside,” Yao noted.


SteelAsia is investing over P100 billion in the next five years to more than double its capacity through more upstream facilities with the establishment of new integrated steelmaking plants using recycling technologies and expansion of its midstream and downstream products to include H beams, sheet piles, wire rods, steel plates, and reinforcing steel mesh that will enable the country to produce basic steel-based materials like pipes, tools, and machinery parts.


“These investments are focused on basic sectors to substitute imports and create linkages to support infrastructure development and downstream industries,” Yao said. The country’s total steel imports reportedly amounted to $4 billion (around P212 billion) in 2017.


“Furthermore, as an archipelago, we are regionalizing to create logistic savings and bring down the cost of steel, and to spur regional economic activities and job creation,” he concluded.

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