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Manila Bulletin devider devider P8-billion steel plant to rise in Quezon

P8-billion steel plant to rise in Quezon

Published Apr 30, 2019 05:32 pm
By Danny Estacio CANDELARIA, Quezon – An P8-billion steel plant will rise in a 32-hectare property in this town. The groundbreaking for the plant of Steel Asia was held at Barangay Malabanban Sur last Monday. The second steel company of Steel Asia in the country with a P8 billion investment to rise in Malabanban Sur, in Candelaria, Quezon following the groundbreaking rites led by Benjamin Yao, CEO and chairman of Steel Asia (center), Quezon Governor David Suarez (5th from right), House Minority Floor Leader and Quezon 3rd district Representative Danilo Suarez (4th left), Mayor Macario Boonggaling (3rd from left) and other company and local officials, on Monday. (DANNY ESTACIO / MANILA BULLETIN) The second steel company of Steel Asia in the country with a P8 billion investment to rise in Malabanban Sur, in Candelaria, Quezon following the groundbreaking rites led by Benjamin Yao, CEO and chairman of Steel Asia (center), Quezon Governor David Suarez (5th from right), House Minority Floor Leader and Quezon 3rd district Representative Danilo Suarez (4th left), Mayor Macario Boonggaling (3rd from left) and other company and local officials, on Monday. (DANNY ESTACIO / MANILA BULLETIN) Leading the ceremony were Benjamin Yao, Steel Asia CEO and chairman, Quezon Gov. David Su­arez, House Minority Floor Leader and Quezon 3rd district Rep. Danilo Suarez, Mayor Macario Boonggaling and local officials. Governor Suarez said the steel plant was the result of a chance meet­ing in December 2018 with Yao, whose family is from Lucban, Quezon. The governor added the venture is the first in the Philippines and could herald the start of industrialization in the province, especially since the National Economic and Development Authority (NEDA) has declared Que­zon as having the fastest economic growth in the Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) region. Yao said the plant will be the first in the country to manufacture wire rods and wire mesh. He added that currently, the country imports wire rods needed in making paper clips, staple wires, and screws. Yao assured Suarez that Steel Asia will hire more than 1,500 construction workers and office staff, and priority will be given to Quezon residents. The plant “will create many business opportunities to support the operation. It will create small and medium enterprises. We expect many of these new businesses will be formed by Candelaria’s entrepre­neurs – whom one day maybe global exporters.” Yao added. The plant is expected to be opera­tional in two years, Yao said.
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