MANILA – The PHP10.31-billion rolling mills manufacturing project of Real Steel Corp. (RSC) has been endorsed by the Board of Investments’ (BOI) One-Stop Action Center for Strategic Investments (OSAC-SI) for green lane treatment in national government agencies (NGAs) and local government units (LGUs).
In a statement Wednesday, RSC said it received the OSAC-SI’s green lane certification on Nov. 6, which tagged its manufacturing project as strategic investments.
The facility will produce 600,000 metric tons of reinforced steel bars (rebars) annually, boosting the country’s steel production.
“Real Steel commends the BOI for promoting a green lane initiative as this will boost more interest amongst investors and further boost domestic production capability and self-sufficiency,” RSC chief financial officer William Chen said.
“We are dedicated to spearheading sustainable practices within the steel industry, and this endorsement is a testament to our continuous efforts to drive sustainable business practices. It not only showcases our commitment to innovation but also highlights our dedication to sustainability and economic progress,” Chen added.
BOI Governor Marjorie Ramos-Samaniego said the investment promotion agency (IPA) prioritizes this kind of integrated steel mills that utilizes local resources like steel scrap and relying less on imported billets.
President Ferdinand R. Marcos Jr. signed Executive Order No. 13 last February directing the Department of Trade and Industry (DTI) to establish Green Lanes for Strategic Investments.
The green lane certification awarded to strategic investments aims to expedite, streamline and automate government approval and registration process of their projects.
Largest solar PV rooftop
Aside from the rolling steel mills, RSC recently sealed the deal with TotalEnergies ENEOS to undertake a 16.9-megawatt peak rooftop solar project in its manufacturing facility in San Simon, Pampanga.
The solar project with TotalEnergies ENEOS will involve installation of 22,000 solar modules that will generate 26,000 MW hours of clean energy per annum.
The project is expected to reduce the company’s carbon emissions by 12,800 tons annually, or equivalent to planting 200,000 trees.
Chen said this will be the largest rooftop solar photovoltaic system in the country.
TotalEnergies ENEOS Renewables Distributed Generation Asia director Elodie Renaud said the collaboration with RSC contributes to the government goal of increasing the share of renewable energy to 35 percent by 2030.
“TotalEnergies ENEOS is committed to aiding companies like RSC in reducing energy costs and footprint through the expertise in tailored renewable solutions,” Renaud added. (PNA)