Hebei Iron & Steel to invest $4.4 billion in integrated steel complex in Philippines-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Aluminium
  • Silicon
  • Inventory data
  • Futures movement
  • Copper
  • Prebaked anode
  • NEV
  • Lead
  • Nickel
  • MMi Iron Ore Port Index
  • Evening comments
  • New Energy Vehicle
  • Production data
  • Market commentary

Hebei Iron & Steel to invest $4.4 billion in integrated steel complex in Philippines

Industry News 11:29:06AM Dec 17, 2018 Source:SMM

SHANGHAI, Dec 17 (SMM) – Chinese steelmaker Hebei Iron & Steel Group will invest $4.4 billion to build an integrated iron and steel plant in Mindanao of southern Philippines. The Group signed a memorandum of understanding (MOU) with Steel Asia Manufacturing Corporation on Friday December 14. 

This would be the biggest industrial investment from China to the Philippines, said Philippine Trade Secretary Ramon Lopez during the signing.

The plant will have an annual capacity of some 8 million mt, covering an area of 305 hectares. Construction is likely to take three to five years.

State-owned Hebei Iron & Steel is the second largest steelmaker in China and third largest in the world.

Key Words:  Market commentary   Steel mill 

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Apr.19
669.0
0.0
(0.00%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Apr.19
92.0
-0.2
(-0.20%)
58% Fe Fines (Qingdao Port): IOPI58
Apr.19
601.0
0.0
(0.00%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Apr.19
82.2
-0.2
(-0.19%)
65% Fe Fines (Qingdao Port): IOPI65
Apr.19
777.0
3.0
(0.39%)

Hebei Iron & Steel to invest $4.4 billion in integrated steel complex in Philippines

Industry News 11:29:06AM Dec 17, 2018 Source:SMM

SHANGHAI, Dec 17 (SMM) – Chinese steelmaker Hebei Iron & Steel Group will invest $4.4 billion to build an integrated iron and steel plant in Mindanao of southern Philippines. The Group signed a memorandum of understanding (MOU) with Steel Asia Manufacturing Corporation on Friday December 14. 

This would be the biggest industrial investment from China to the Philippines, said Philippine Trade Secretary Ramon Lopez during the signing.

The plant will have an annual capacity of some 8 million mt, covering an area of 305 hectares. Construction is likely to take three to five years.

State-owned Hebei Iron & Steel is the second largest steelmaker in China and third largest in the world.

Key Words:  Market commentary   Steel mill