Breaking New Ground: SteelAsia's Davao Mill Exports Steel Bars to Canada

COURTESY: SteelAsia Manufacturing Corporation

SteelAsia Manufacturing Corporation has made waves by achieving something unprecedented in the Philippine steel industry. Through its Davao mill, the company shipped 14,200 metric tons of high-strength steel bars worth USD 8.8 million (Php 511.24 million) to Canada in October 2024. This marks the first time the Davao mill—or any steel mill in Mindanao—has exported steel products, setting a new benchmark for the industry. 

This shipment represents a significant breakthrough, not just for SteelAsia but for the whole Philippine steel industry. The Davao mill's entry into the Canadian market highlights its ability to meet stringent quality standards required by First World countries. SteelAsia Chairman and CEO Benjamin Yao expressed pride in this achievement, emphasizing the role of cutting-edge technology in elevating local steel products to global standards. 

The latest shipment is the seventh export of rebars for Canadian infrastructure projects, but it’s the first from SteelAsia’s newly accredited Davao mill. The previous six shipments originated from SteelAsia’s Batangas mill, totaling more than 41,400 metric tons of rebar worth USD 27.32 million (Php 1.58 billion). With the Davao mill now entering the export scene, the overall delivery to Canada has surpassed 55,600 metric tons of steel, valued at USD 36.12 million (Php 2.1 billion).

The success of these exports underscores SteelAsia's growing influence in the international market. The company’s strategy of leveraging advanced technology and maintaining rigorous quality standards has paid off, opening doors to new opportunities and markets. The Davao mill’s achievement serves as a testament to the potential of Philippine steel to compete on a global stage.

In addition to its recent success, SteelAsia’s Davao Works is poised to continue its export journey with an order for over 30 thousand metric tons, valued at approximately Php 1.2 billion. This upcoming shipment is expected to surpass the deliveries from the company’s Calaca mill. The Davao mill's ability to consistently meet international demands is a promising sign for future exports.

SteelAsia’s focus on innovation and quality not only boosts its competitive edge but also contributes to the growth of the Philippine manufacturing sector. The company’s achievements are paving the way for the local steel industry to establish itself as a key player in the global market. 

SteelAsia’s Davao Works is one of its five rebar mills, making it one of the largest rebar manufacturers in Southeast Asia. The company’s latest mill, inaugurated in Compostella Cebu in July, further exemplifies its expansion efforts. President Ferdinand Marcos Jr., who attended the inauguration, highlighted SteelAsia's crucial role in the country’s socio-economic transformation. 

Over 70% of all infrastructure, housing, power, industrial, and other developments in the Philippines use SteelAsia rebar. This statistic underscores the company’s indispensable role in the nation’s growth and development. As SteelAsia continues to break new ground, its influence is set to grow, both locally and internationally.

In conclusion, SteelAsia’s successful export of steel bars from its Davao mill to Canada marks a significant milestone for the Philippine steel industry. This achievement is a testament to the company’s commitment to quality, innovation, and global competitiveness. As SteelAsia continues to expand its reach, the future looks bright for the Philippine steel industry, with more opportunities and successes on the horizon.

Record-Breaking Investments in the Philippines: A Personal Journey Through Economic Progress

COURTESY: Board of Investments (BOI) 

When I heard about the Board of Investments (BOI) in the Philippines hitting a milestone of PHP 1.15 trillion in approved investments by the end of July 2024, my heart swelled with pride. As a Filipino, witnessing our nation’s economic growth is both exhilarating and promising. I want to share with you the remarkable journey that has led to this significant achievement and how it resonates with our collective dreams for a prosperous future.

Under the dynamic leadership of DTI Secretary and BOI Chairman Fred Pascual, the BOI has undergone a transformative journey. Secretary Pascual's unwavering commitment to fostering a robust economic environment has been nothing short of inspiring. His tenure has seen a 65% increase in approved investments compared to the same period last year, a testament to his strategic vision and dedication.

Reflecting on this milestone, Secretary Pascual’s words resonate deeply: “These investment approvals underscore our unwavering commitment to fostering a robust and dynamic economic environment.” His forward-thinking approach has laid the groundwork for sustainable growth, ensuring that the benefits of these investments reach every Filipino. As he prepares to step down, his legacy of economic progress serves as a beacon of hope for future leaders.

One of the most exciting aspects of this investment surge is the focus on renewable energy. The BOI has approved major projects such as a PHP 185 billion solar project with battery energy storage and the PHP 297 billion Pakil Pumped Storage Hydroelectric Power Project. These projects are not just investments in infrastructure; they are investments in our planet and our future.

The removal of nationality restrictions on renewable energy investments has opened the doors to foreign investors, further accelerating our green revolution. The Guimaras Strait Offshore Wind Power Projects, valued at PHP 114.7 billion, are a prime example. These projects are transforming our energy landscape, reducing our reliance on fossil fuels, and paving the way for a sustainable Bagong Pilipinas.

While foreign investments are crucial, the role of domestic investments cannot be understated. Companies like SteelAsia and Mega Prime Foods are making significant contributions to job creation and food security. SteelAsia’s PHP 92 billion investment in steel mills is set to revolutionize our construction industry, while Mega Prime Foods’ facility in Batangas will boost our food production capabilities.

The Wawa Dam project, another notable domestic investment, will supply over 710 million liters of water daily to Metro Manila and Rizal by 2025. This project is a lifeline for millions, ensuring a stable water supply for our growing population. These domestic investments are building a strong foundation for our nation’s future, demonstrating the power of local enterprises in driving economic growth.

As BOI Managing Head Ceferino Rodolfo emphasized, the goal is to surpass PHP 1.6 trillion in approved investments this year. This ambitious target is not just a number; it represents the collective aspirations of a nation striving for excellence. The proactive engagement of various investment promotion agencies has been instrumental in attracting high-profile projects from global giants like Toyota Motor Philippines and FedEx.

Under the ANGAT Negosyo vision, efforts to streamline and digitalize business processes are enhancing the ease of doing business. These measures are crucial in creating an attractive investment climate, promoting trade agreements, and facilitating partnerships between domestic and foreign businesses. The ASENSO Trabaho thrust, focusing on job creation and economic development, further complements these efforts.

In conclusion, the BOI’s achievement of PHP 1.15 trillion in approved investments is a testament to the power of visionary leadership, strategic planning, and collaborative efforts. As we continue this journey, let us embrace innovation, sustainability, and inclusivity. Together, we can build a prosperous Philippines, where every investment translates into opportunities for growth and progress for all Filipinos.