SteelAsia exported P1.5 B worth of rebars to Canada

CEBU CITY -- Filipino steel manufacturing firm SteelAsia Corporation shared that it has exported P1.5 billion worth of high strength steel bars to date to its Canadian clients.

In a press conference at SteelAsia's Compostela Cebu rebar mill on May 23, the firm's Senior Vice President for Business Development Rafael Hidalgo said their rebars are being used for the development of Canada's subway system.

A total of 41,418 tons of rebars have been shipped to Canada with six different orders, averaging P250 million in value per shipment. Of the six orders, three were shipped this year, he noted.

On potential future exports, Hidalgo said in a Viber message that the company has received many inquiries from different companies in Canada.

SteelAsia Chairman and Chief Executive Officer (CEO)  Benjamin Yao explained that his company's existing partnership with global infrastructure firm Acciona has paved the way for the exports to Canada. 

Acciona was the contractor of the Cebu-Cordova Link Expressway (CCLEX) or Cebu-Cordova Bridge, wherein SteelAsia supplied their rebar requirements. Acciona is also the contractor for the Vancouver, Canada subway station.

"[This is because of] the relationship, and they're happy with our service," said Yao.

SteelAsia first announced its rebar exports to Canada, totaling P1.32 billion, in a statement made in July last year.

The firm stated that it uses green steel production methods for steel bars, incorporating recycled materials to form the bars.