The multi-billion peso steel mill project of SteelAsia Lemery Works Inc. in Lemery, Batangas has been granted a “green lane” endorsement by the Department of Trade and Industry’s (DTI) Board of Investment One-Stop Action Center for Strategic Investments (OSAC-SI).
In a statement on Thursday, the BOI said SteelAsia’s 500,000-metric ton section mill project has been awarded the Green Lane Certificate of Endorsement on September 15.
Under Executive Order No. 18., a green lane endorsement can expedite the processing and issuance of permits and licenses for projects identified as strategic investments.
SteelAsia’s project has an initial investment cost of P19.3 billion.
The project is expected to start operations in July 2024 and would be employing 600 personnel and workers from the local town and nearby areas.
July 21, 2023
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