Global Steel Phils starts production of steel plates
Global Steel Philippines, Inc. has started production of steel plates with the recent commissioning of its plate mill in Iligan.
Interviewed at the sidelines of the three-day conference on Sustaining Mining Exploration and Investments at the Crown Plaza Galleria, company vice president for corporate communications Sangram Mohanty said Global Steel is targeting a production of 20,000 metric tons a month of steel plates, both for the domestic sector and for export to other Southeast Asian markets.
At the same time, Mohanty confirmed Global Steel’s continuing interest to invest in the local mining sector to complement its existing steel manufacturing activities.
He said “we are looking at all mines” and have not seriously sat down with any specific group. “We are not sure of the availability of iron ore because it has not really been mapped.”
Aside from Global Steel, a lot of other Indian investors have their sights set on the
According to Dr. Ahmed S. Firoz, former chief economist of
Environment and Natural Resources Secretary Jose L. Atienza had previously told reporters that the Mittal Group, which controls Global Steel, may invest an additional P4 billion to P5 billion in the Philippines. The group has expressed interest to go into mining, specifically iron ore, to support its steel milling operation in Iligan and to fully integrate its existing steel manufacturing operation in the country.
The Mittal Group’s Ispat acquired the former National Steel Corp. (NSC) in 2004 then renamed it to Global Steel Philippines. — Marianne Go
- Latest
- Trending
