The Board of Investments (BOI) said Wednesday it approved the application for registration of Accutech Steel and Service Center Inc. (ASSCI) as a new producer of steel frame modules for structural building systems in the Philippines.
Soon to operate in Taguig City, the project was approved under Tier III of the Strategic Investment Priority Plan (SIPP) or “highly technical manufacturing and production of innovative products”.
The project, with an investment of P125 million, introduces a new production line dedicated to designing and manufacturing steel frame modules or panels from slit rolls of galvanized cold form steel (CFS), commonly referred to as light gauge steel (LGS).
Accutech’s project stands out as highly technical, utilizing computer-aided and controlled processes for project management, structural design and engineering. The steel frame modules are intended for structural building system applications including for houses, mid-rise buildings, factory warehouses and other residential, commercial, industrial, utility, artistic and architectural structures.
DTI Undersecretary and BOI managing head Ceferino Rodolfo highlighted the project’s innovation, noting that the use of CFS/LGS framing for structural building systems is a relatively new technology for the Philippine construction industry.
Advanced countries like the US, Australia and New Zealand have already adopted CFS/LGS frames for structural building construction due to their economical, eco-friendly and rapid construction benefits.
“We are forging ahead with groundbreaking investment opportunities in the Philippines. This project heralds a revolutionary chapter in our construction industry, showcasing cutting-edge innovations. The green light for this endeavor underscores our relentless dedication to driving the construction sector’s growth and dynamism,” said Trade Secretary and BOI chairman Alfredo Pascual.
ASSCI’s initiative is poised to transform the construction industry towards a more economical, faster, sustainable and smarter construction method for houses and buildings and aims to revolutionize the construction industry by offering sustainable and efficient solutions.
The Department of Science and Technology (DOST)-Research and Development, endorsed the Tier III project.