SteelAsia ships record P1 billion exports to Canada

MANILA, Philippines — SteelAsia Manufacturing Corp., the country’s flagship steel company, shipped out over P1.1 billion worth of products to Canada last week, marking the Philippines’ largest steel export to date.

In a statement, SteelAsia said that it exported 32,000 metric tons (MT) of high-strength reinforcing steel for a subway project in Vancouver, Canada on Jan. 30.

The shipment, which came from the company’s plant in Davao City, was valued at more than $19 million or P1.1 billion.

The latest shipment brought SteelAsia’s total exports for the subway project to 87,000 MT with an approximate value of P3.2 billion.

“We have repeat orders from the same buyer and project, a vote of confidence in our reliability as a supplier and in the quality of our products,” SteelAsia chairman and CEO Benjamin Yao said.

In the domestic market, he said SteelAsia’s biggest customers are the country’s top developers.

Aside from the plant in Davao, SteelAsia has plants in Batangas, Bulacan and Cebu.

At present, the company is constructing a green steel H beam plant in Lemery, Batangas. It is also set to start site development in Candelaria, Quezon for a second green steel H beam plant worth P30 billion.

Expected to start commercial operations in 2027, SteelAsia’s plant in Quezon will be using the latest European steel technology.

Apart from Batangas and Quezon, SteelAsia is also putting up new plants in Davao City and in Concepcion, Tarlac.

SteelAsia is building new plants to replace imports, generate new businesses, create local jobs and support economic growth.