Manila Standard has reported that China has expressed keen interest in helping the Philippines become self-reliant in meeting its steel requirements by investing between USD 1.5-2 billion to put up a liquid steel plant in the Philippines. Philippines Ambassador to China Mr Jaime FlorCruz during a media forum in Quezon City last week said “This is among the 14 bilateral agreements between the Philippines and China during the recent state visit of President Ferdinand ‘Bongbong’ Marcos Jr to Beijing. The establishment of the first liquid steel facility in the country would end the Philippines’ dependence on imported steel for various uses, such as construction and manufacturing. We should have our own steel manufacturing plant. We cannot be forever dependent on imports.”Mr FlorCruz added “We can see that this is aligned with own needs. China wants to invest in this project because we need such a facility and we will benefit from it in the long run.”An agreement has been signed between the Chinese firm Baowu and SteelAsia, a large steel-making firm in the country.
Manila Standard has reported that China has expressed keen interest in helping the Philippines become self-reliant in meeting its steel requirements by investing between USD 1.5-2 billion to put up a liquid steel plant in the Philippines. Philippines Ambassador to China Mr Jaime FlorCruz during a media forum in Quezon City last week said “This is among the 14 bilateral agreements between the Philippines and China during the recent state visit of President Ferdinand ‘Bongbong’ Marcos Jr to Beijing. The establishment of the first liquid steel facility in the country would end the Philippines’ dependence on imported steel for various uses, such as construction and manufacturing. We should have our own steel manufacturing plant. We cannot be forever dependent on imports.”Mr FlorCruz added “We can see that this is aligned with own needs. China wants to invest in this project because we need such a facility and we will benefit from it in the long run.”An agreement has been signed between the Chinese firm Baowu and SteelAsia, a large steel-making firm in the country.
