August 30, 2008

TKC Steel eyeing USD 7 million pipe supply contract

It is reported that TKC Steel Corp was eyeing USD 7 million worth of steel pipe supply contracts for a port project at Guangzhou in China and an export requirement to the Netherlands.

Mr Anthony Dizon president of TKC Steel in a statement that the USD 7 million will come from steel pipe supply contracts for the Guangzhou Port Project in China and an export requirement to the Netherlands. These two contracts would need at least 8,500 tonnes product. He added that the company has benefited from the economic gains of the Philippines and China citing an increase in infrastructure development for both countries.

Mr Dizon said that “Our operations in China give us the opportunity to ride on its bullish economy by supplying the huge domestic market. At the same time, China provides a low-cost production base for our steel pipes which we can export to nearby export markets like the Philippines."

TKC Steel through its subsidiary Zhang Zhou Stronghold Steelworks Co Ltd provided over 3,100 tonnes steel pipes to complete a number of infrastructure projects, namely the Haicang Water Project, the Xiamen Port Project and an undisclosed project at Davao City in Philippines. These recently completed contracts are additions to the previously completed shipments of pipes to support the construction of the Iloilo International Port project and a number of mining projects in Cebu. The requirements for which amounted to 3,700 tonnes.