Chinese firm to open P56-B steel plant in Sarangani

A Chinese steel manufacturer is set to begin operations next month in Sarangani as part of a multibillion-dollar investment expansion in the Philippines, according to the Department of Trade and Industry (DTI).

Trade Secretary Cristina Roque said the Panhua Integrated Steel facility of Panhua Group in Barangay Kamanga, Maasim, Sarangani will produce metal sheets and generate about 4,000 jobs for local workers once fully operational.

The facility, located inside the Kamanga Agro-Industrial Ecozone, represents the first phase of the company’s broader expansion program in the country following discussions between Roque and Panhua officials during her recent trip to Suzhou, China.

Panhua registered its investment project with the Board of Investments around three years ago, while the expansion plan was first announced in 2024. At the time, it was considered the biggest foreign direct investment secured under the administration of President Ferdinand Marcos Jr..

“They’re very bullish in the Philippines and they’re so big in China. They’re planning to investment a total of US$3.5 billion in the Philippines,” Roque said on the sidelines of the DTI’s e-transport loan awarding event in Makati City.

Apart from steel manufacturing, the company is also studying the possibility of venturing into tea production in the Philippines. TRACY CBRERA