CAGAYAN DE ORO CITY – Ansteel, the Chinese shipbuilding giant which earlier expressed interest to put up a steelmaking plant in Misamis Oriental, will construct two more large factories here–a cement processing plant and a shipyard.
Ma. Teresa Alegrio, regional governor for the Philippine Chamber of Commerce and Industry (PCCI), disclosed this over the weekend even as she said that there were already exploratory talks on the matter between Ansteel and the management of Phividec Industrial Authority which PCCI helped brokered.
Phividec Industrial Authority manages the 3,000-hectare wide Phividec Industrial Estate in Misamis Oriental, home to dozens of multinational companies enjoying the privileges of an economic zone.
Mayor Oscar Moreno says Ansteel’s decision to put up a total of three plants in Phividec bodes well both for the company and Northern Mindanao.
“Number one, Phividec is a strategic location. The charter of Phividec was created in such manner that it attracts huge multinational investors through the long-term. Number two, Phividec hosts its own international container port that caters to the needs of its clients," Mayor Moreno said.
Encompassing the two municipalities of Tagoloan and Villanueva, Phividec stands for the Philippine Veterans Investment Development Corporation, a government owned and controlled corporation (GOCC) created in 1974 aimed at harnessing funds for retired soldiers.
Last year, Gov. Yevgeny Vincente Emano said that the entry of Ansteel here would create 50,000 jobs.
Ansteel is a major manufacturer of shipbuilding plates, bulb steel and imperative steel products. According to its international website, it has the capacity to produce four million tons of ship hull and ocean engineering steel per year.
Two other Chinese steelmakers–Huili Investment Fund Management Co., Ltd. And Yi Ding Tai International Corp.–have also expressed interest to put up manufacturing plants in the country. (Mark D. Francisco/PNA)
