Steel Company to Invest in Davao del Norte

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Category: Business Posted: Sunday, November 7th, 2010
reinforcing steel bars

Reinforcing steel bars

Harbour Industrial Development Corp. is set to infuse P1.948 billion worth of investment for a steel factory that will cater the demand for Mindanao market which is estimated at 400,000 metric tons per year.

Once realized, the new facility is expected to manufacture PNS 49 and 211 concrete. The steel manufacturing facility will be located in Panabo City, Davao del Norte and will have an annual capacity of 400,000 metric tons.

The company applied for tax incentive to the Board of Investment (BOI) for its investment on a steel bar manufacturing plant. Once operational, the company will employ more than 200 employees and plan to start by January next year.

Reinforcing steel bars or rebar are mainly used for general construction and usually formed from carbon steel.

The factory will use state-of-the-art equipment for the production of steel bars and plans to export steel products to Manado, Indonesia. The company has high-speed delivery system that enables them to provide high productivity up to three times of any current technology used in the country in the production of PNS 211 and PNS 49 reinforcing steel bars.

Harbour Industrial has already entered into an agreement with SteelAsia, a modern steel bar mill which will provide raw materials needed for the rebar production.

3 Responses to “Steel Company to Invest in Davao del Norte”

  1. Jason Says:

    Wow! It’s a huge investment. This project would be very helpful as this will provide additional income to the city of Panabo.

    More progress Davao del Norte.

  2. Everly Says:

    This news is a welcome development. I hope more investments especially in agriculture will follow.

  3. John Says:

    Will they be open for the wholesalers resides in Davao City?

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