23
Jan
09:56
Baowu, SteelAsia target new Philippine steelworks
Philippine steelmaker Steel Asia has inked an agreement with a subsidiary of China’s Baowu Group to build a 3 million tone/year steelworks in the Philippines. The company says chief executive Benjamin Yao signed the agreement with Baowu Group Zhongnan Iron and Steel vice president Li Huaidong earlier in January, Kallanish notes.
“This project will spawn new industries and wean the country off its perennial dependence on imports,” Yao observes. Th…
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