Suzhou, China — Chinese steel manufacturer Panhua Group Co., Ltd. reaffirmed its long-term investment commitment in the Philippines during a meeting with officials from the Department of Trade and Industry (DTI) on the sidelines of the Asia-Pacific Economic Cooperation Ministers Responsible for Trade Meeting on May 21 in Suzhou, China.
At the center of the discussions was the progress of Panhua’s US$3.5-billion integrated steel project in Sarangani Province, considered one of the largest foreign investments in the Philippine steel sector.
The project covers the entire industrial chain, including steel production, utilities, and dedicated port facilities.
Panhua launched its first color-coated steel production line on June 28, 2025, while the facility’s galvanizing line is nearing completion. Company officials expect Phase 1 operations to become fully functional within the first half of 2026.
The company is also preparing for Phase 2 and Phase 3 expansions, signaling a long-term commitment to the country’s manufacturing sector.
Panhua Chairman Xinhua Li thanked the Philippine government for its continued support, saying it strengthened the company’s confidence in the country’s industrial potential.
DTI Secretary Ma. Cristina A. Roque said developing a strong domestic steel industry remains vital to the country’s economic and infrastructure agenda.
She said a stable local steel supply would support key industries such as construction, transportation, shipbuilding, and infrastructure manufacturing.
Beyond its industrial impact, the project is expected to serve as a major economic driver for Mindanao by generating jobs, improving workforce skills, encouraging technology transfer, and creating opportunities for local suppliers.
The government continues to implement a “whole-of-government” approach for the project, with national agencies, local government units, and investment promotion bodies coordinating to streamline operations and address manufacturing requirements.
The DTI and partner agencies are also committed to sustaining a business-friendly environment through policy support and supply chain development.
Officials encouraged Panhua to continue working closely with local stakeholders to ensure the project’s long-term and sustainable growth.
At least 70 percent of the project’s products are expected to be exported to international markets, further boosting the country’s export sector.
The DTI said it remains ready to support Panhua’s long-term operations as the project strengthens industrial development and economic ties between the Philippines and China. PR
