Quezon: The country's largest steel producer, SteelAsia Manufacturing Corp., is investing PHP30 billion to build a new facility in Candelaria, Quezon. According to Philippines News Agency, the Candelaria plant will serve as an import substitute for heavy structural steel products, which are currently sourced from neighboring countries. The heavy sections plant will incorporate the latest European steel technology to produce over 1 million tons of structural steel, including H beams, I beams, angles, channels, sheet piles, plates, and other heavy profiles. This initiative is expected to save the Philippines USD1.2 billion annually by reducing the need to import these products. "We will create around 7,000 jobs instead of giving jobs to China, Vietnam, Thailand, Korea, and Japan, our major suppliers," said Benjamin Yao, SteelAsia chairman and CEO. He also mentioned that the plant is scheduled to start commercial operations by 2027. The project promises to improve delivery lead times from three to four mont hs to just one to two weeks once the Candelaria plant becomes operational. "Our carbon footprint will also be 90 percent lower than the traditional steelmaking process because we use recycled scrap metal and employ electric arc furnace technology," Yao added. SteelAsia has awarded the Engineering, Procurement, and Construction Management for the Candelaria plant to MCC Huatian Engineering and Technology Co., Ltd. MCC Huatian is recognized as a global leader in steel plant engineering, having built over 230 steel plants with a total installed capacity of over 200 million tons across 14 countries. "In steel manufacturing, we cannot compromise on technology and know-how because we are committed to producing the best steel products," Yao stated.