The Philippines-based steel producer SteelAsia Manufacturing Corporation has recently inaugurated its new plant in Compostela, Cebu. The new facility has an annual production capacity of 1 million metric tons of high-strength rebar.
SteelAsia has already produced the first batch of steel bars as the plant enters the final commissioning phase. With the addition of this new plant, the company's total domestic rebar capacity across all its mills in the Philippines has now reached 3 million metric tons per year, up from 2 million metric tons previously.
In addition to the new Cebu plant, SteelAsia plans to build four more production facilities on the islands of Luzon and Mindanao over the next two to three years. These new plants will allow the company to diversify its product range by manufacturing steel products that are currently not produced in the Philippines, such as H-beams, I-beams, wire rod, sheet piles, and billets.
The inauguration of the Cebu plant and SteelAsia's expansion plans highlight the company's commitment to meeting the growing demand for steel in the Philippines and reducing the country's reliance on imports. As the largest rebar producer in Southeast Asia, SteelAsia is poised to play a crucial role in supporting the country's infrastructure development and construction activities.