Pangilinan-led Metro Pacific Investments Corp. (MPIC) has entered a memorandum of understanding (MOU) with Mitsui & Co. (Asia Pacific) Pte. Ltd. Manila Branch (Mitsui) and SteelAsia Manufacturing Corp. to explore the creation of a closed-loop steel recycling system that supports a circular economy.

MPIC said the partnership will assess the feasibility of a model where steel scraps from MPIC Group’s supply chain are purchased by Mitsui and recycled by SteelAsia, then sold back in the market for reuse in infrastructure projects.

This initiative will maximize the value of steel, reduce the reliance on newly mined materials, cut carbon emissions, and keep resources in continuous productive use.

This initiative goes beyond just recycling, it represents a fundamental shift on how we approach sustainable growth,” said MPIC Chief Finance, Risk, and Sustainability Officer June Cheryl A. Cabal-Revilla.

She noted that, “A closed-loop system for steel means less extraction, fewer emissions, and stronger local supply chains. This model delivers lasting value for the economy, the environment and our communities.”

Under the proposed model, MPIC will work closely with its operating companies to identify the volume and types of steel scrap generated within the Group.

Mitsui will integrate and manage the flow of recovered scrap to SteelAsia, which will manufacture high-quality “green steel” products for potential use in future infrastructure projects.

This effort is in alignment with MPIC’s sustainability framework, which integrates economic, environmental, social, and governance (EESG) principles into both strategic planning and daily operations.

The company continues to prioritize innovation, responsible growth, and long-term resilience, advancing its mission to build a greener, more resilient Philippines.

“SteelAsia proudly drives the circular economy in construction using our green steel technology,” said SteelAsia President Sean Andre Y. Sy.

He added that, “We find ourselves in good company with MPIC and Mitsui who share our commitment to adopt sustainability as one of their core values. By recycling domestic waste, together we advance the country’s economic development in the best way possible.”

“What makes this steel recycling system even more sustainable is that it produces green steel through SteelAsia's low carbon emission technology--good for business and good for the environment,” Sy pointed out.

Meanwhile, Mitsui Branch General Manager Kazuhiro Nomura said “We are pleased to announce the signing of a MOU with MPIC and SteelAsia for the joint study on closed-loop steel recycling.

“By leveraging Mitsui's extensive experience in scrap and steel trading, we aim to realize this initiative and contribute to the creation of a more sustainable society.”

By rethinking how steel is sourced, used, and reused, MPIC, Mitsui, and SteelAsia are helping ensure that the country’s infrastructure growth is efficient, responsible, and supportive of stronger local supply chains for the future.