Following President Ferdinand R. Marcos Jr.’s directive to update the Philippine Iron and Steel Roadmap, the Department of Trade and Industry (DTI) has committed to craft a comprehensive and sustainable development blueprint for the sector.<\/p>\n
In a Viber message to reporters Thursday, DTI Secretary Alfredo Pascual said his agency will work with industry stakeholders to review and upgrade the iron and steel industry roadmap.<\/p>\n
“Our goal is to develop a comprehensive and sustainable strategy that strengthens the domestic steel industry and enhances our trade balance,” Pascual said.<\/p>\n
Particularly, the DTI chief said he aims to reduce the country\u2019s reliance on imports.<\/p>\n
“The steel industry is integral to our nation’s infrastructure development and economic growth, and we recognize its critical role in propelling the Philippines forward,” he added.<\/p>\n
\u201cWe are confident that through a whole-of-nation approach, we can cultivate a robust Philippine steel industry and attract substantial investments in this vital sector,\u201d Pascual said.<\/p>\n
On Wednesday, President Marcos graced the inauguration of the manufacturing facility of the country\u2019s largest steelmaker SteelAsia Manufacturing Corp. in Compostela, Cebu.<\/p>\n
SteelAsia Compostela Works has a production capacity of 1 million tons annually.<\/p>\n
Earlier, SteelAsia chairman and chief executive officer Benjamin Yao announced another PHP65 billion in investments to build four new manufacturing facilities in Quezon Province, Tarlac, and Davao.<\/p>\n
These facilities are expected to produce steel products that are not yet being manufactured in the country.<\/p>\n
Likewise, integrated steel manufacturer Panhua Integrated Steel, Inc. is also set to start commercial operations next year, producing various steel materials and billets for cold-rolling, automobiles, and construction. (PNA)<\/p>\n","protected":false},"excerpt":{"rendered":"
DTI commits to fostering resilience and innovation in the Philippine iron and steel landscape.<\/p>\n","protected":false},"author":1,"featured_media":256320,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19624],"tags":[],"class_list":["post-256319","post","type-post","status-publish","format-standard","has-post-thumbnail","category-latest-news"],"zyndk8_nxtgen_metadata":[],"_links":{"self":[{"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/256319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=256319"}],"version-history":[{"count":1,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/256319\/revisions"}],"predecessor-version":[{"id":258203,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/posts\/256319\/revisions\/258203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=\/wp\/v2\/media\/256320"}],"wp:attachment":[{"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=256319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=256319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glorious-yellow-sloth.194-233-75-192.cpanel.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=256319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}