SteelAsia Manufacturing Corp. signs an agreement with China’s BaoSteel Group to build a P108-billion integrated steel facility that will produce 3 million tons of liquid steel that can be converted into almost any finished steel product. The project will generate about 2,000 jobs, spawn new industries and wean the Philippines from perennial dependence on imports. Attending the signing ceremony during President Ferdinand Marcos Jr.’s three-day state visit to China early in January are (from left) Department of Trade and Industry vice consul Mario Tani, SteelAsia chief operating officer Andre Sy, Zhongnan senior vice president Li Huaidong, DTI Undersecretary Ceferino Rodolfo, Steel Asia chairman and chief executive Benjamin Yao and Steel Asia senior vice president Rafael Hidalgo.
