The new plant capacity will reach 8M tons
Recently, HBIS's(Hebei Iron and Steel Group) Philippine Steel Project Cooperation Memorandum was formally signed. The project is located in the Pfeiffer Industrial Park in Cagayan de Oro, Fiji.
HBIS and the Asian Steel Corporation of the Philippines led the formation of an investment consortium to build a steel conglomerate integrating port, sintering, coking, pelletizing, steelmaking, rolling and deep processing.
The production scale of iron and steel supporting production is about 8 million tons per year, with a total investment of about 4.4 billion US dollars and a construction period of 3-5 years.