Metro Pacific Investments Corp. (MPIC), Mitsui & Co. (Asia Pacific) Pte. Ltd. Manila Branch and SteelAsia Manufacturing Corp. have signed a memorandum of understanding to study the creation of a steel recycling system to support a circular economy in the Philippines.
The partnership aims to create a closed-loop recycling model, where steel scraps from MPIC’s supply chain are purchased by Mitsui, recycled by SteelAsia, and sold back to the market for reuse in infrastructure projects.
THE initiative would maximize the value of steel, reduce reliance on newly mined materials, cut carbon emissions, and keep resources in continuous productive use.
“This initiative goes beyond just recycling, it represents a fundamental shift in how we approach sustainable growth,” said June Cheryl Cabal-Revilla, MPIC chief finance, risk and sustainability officer.
“A closed-loop system for steel means less extraction, fewer emissions, and stronger local supply chains. This model delivers lasting value for the economy, the environment and our communities,” she said.
Under the proposed model, MPIC would identify the volume and types of steel scrap generated by its operating units, while Mitsui would manage the flow of the recovered scrap to SteelAsia. SteelAsia would then manufacture “green steel” for potential use in future projects.
The effort is aligned with MPIC’s sustainability framework, which integrates economic, environmental, social, and governance principles into its strategy and operations.
“SteelAsia proudly drives the circular economy in construction using our green steel technology. We find ourselves in good company with MPIC and Mitsui who share our commitment to adopt sustainability as one of their core values,” said Sean Andre Sy, president of SteelAsia.
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“By recycling domestic waste, together we advance the country’s economic development in the best way possible,” he SAID.
Mitsui’s Manila branch general manager Kazuhiro Nomura expressed optimism about the partnership.
“By leveraging Mitsui’s extensive experience in scrap and steel trading, we aim to realize this initiative and contribute to the creation of a more sustainable society,” he said.
