CAGAYAN DE ORO CITY—Chinese shipbuilding giant Ansteel is choosing between Subic and Phividec Industrial Estates in Misamis Oriental as possible sites for their new plant in the Philippines.
Gov. Yevgeny Vincente Emano disclosed that the company is expected to generate almost 50,000 jobs once it’s realized.
Emano said he has met with Ansteel executives who called on him earlier this week. Prior to the group’s meeting with the governor, Ansteel representatives also met with Phividec administrator Franklin Quijano.
If plans don’t miscarry, this would be the second time in less than a decade that a steel manufacturing company has expressed interest to invest in Misamis Oriental.
In 2008, Hanjin Heavy pulled out of its planned $2 billion shipyard facility also at Phividec Industrial Estate, complaining of too much bureaucracy not just at the local level but also with Phividec management.
Quijano, who assumed as Phividec administrator only two months ago, assured his full support to the project should Ansteel pushes through with their planned investment here.
Two other Chinese steelmaking firms – Huili Investment Fund Management Co., Ltd. and Yi Ding Tai International Corp. – also expressed interest this month to put up projects in the country
Ansteel is a major manufacturer of shipbuilding plates, bulb steel and a great batch of imperative steel products. It has the capacity to produce four million tons of ship hull and ocean engineering steel per year. (PNA/Mark D. Francisco)
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