SteelAsia unit's P30-B heavy steel recycling mill gets green lane status
The Board of Investments has granted green lane status to Candelaria Steel Inc.'s, a subsidiary of SteelAsia Manufacturing Corp., P30-billion heavy section mill and new-generation scrap recycling mini-mill project in Candelaria, Quezon.
In a news release on Wednesday, the BOI said it awarded Green Lane Certification to Candelaria Steel last July 3, 2025.
Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues.
In February 2024, President Ferdinand Marcos Jr. issued Executive Order 18 mandating the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments.
Strategic investments are those that are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by the significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country's balance of payments; with complex technical processes and engineering designs; and will improve the country's infrastructure capabilities.
The BOI said Candelaria Steel's facility is scheduled to begin commercial operations by July 2027.
The facility is expected to generate approximately 655 in-plant jobs and 3,000 indirect jobs, 'boosting local economic activity and enhancing the domestic steel supply chain.'
The steel maker's project involves the construction of a state-of-the-art facility that will employ Electric Arc Furnace (EAF) technology, prioritizing sustainability by using locally sourced recycled scrap metal instead of imported raw materials.
According to SteelAsia, the recycling process reduces CO2 emissions by a minimum of 70% compared to traditional blast furnace methods.
The BOI said the plant will produce up to one million metric tons of heavy steel sections annually, including angles, channels, H-beams, I-beams, sheet piles, and universal mill plates.
The project is strategically designed to address the country's heavy reliance on steel imports, which currently adds 3 to 4 months to local production timelines, the BOI said.
The Candelaria steel mill will complement SteelAsia's medium section mill in Lemery, Batangas, which was also endorsed for Green Lane Certification by the BOI in 2023.
The Lemery facility, currently under construction, will produce medium sections and merchant bars—products that are currently 100% imported.
Both plants intend to supply the Bataan-Cavite Interlink Bridge Project and help close critical gaps in domestic steel production, support fabrication shops, and boost the country's industrial competitiveness across Southeast Asia, according to the BOI.
The steel industry remains a cornerstone of Philippine industrialization, supporting sectors such as infrastructure, automotive, shipbuilding, electronics, and packaging, the investment promotion agency said. —AOL, GMA Integrated News
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