Marcos inaugurates PH largest steel mill in Compostela, Cebu

President Ferdinand R. Marcos Jr. presided over the ribbon-cutting ceremony for SteelAsia Manufacturing Corporation's Compostela Works, the country's newest and largest steel mill Tuesday, July 9, 2024.
President Ferdinand R. Marcos Jr. presided over the ribbon-cutting ceremony for SteelAsia Manufacturing Corporation's Compostela Works, the country's newest and largest steel mill Tuesday, July 9, 2024. (Photo by CAV)

PRESIDENT Ferdinand R. Marcos Jr. presided over the ribbon-cutting ceremony for SteelAsia Manufacturing Corporation's Compostela Works, the country's newest and largest steel mill Tuesday, July 9, 2024.

The facility is poised to meet the rebar needs for various infrastructure projects, including bridges, roads, airports, seaports, flood control systems, and other significant construction efforts in the Visayas and Mindanao regions. It will also support residential construction, particularly addressing housing shortages, and currently employs over 300 people.

"Steel is the backbone of many industries; many industries depend on steel for their further development," said Marcos.

"Once the Compostela Works becomes fully operational, it will have an annual production capacity of 1 million tons of rebars, making it the country’s largest steel plant," Marcos added. The facility is equipped with cutting-edge technology from global steel manufacturing leaders Danieli of Italy and Fives of France.

The facility's development was financed by a P5.7-billion Project Finance Loan from the Development Bank of the Philippines (DBP) in June 2020. (CAV)

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