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HBIS Group will build in the Philippines steel mill

HBIS Group China metallurgical group. It is the third largest steel producer. She signed a new agreement to build an integrated steel mill. It will be erected on the southern Philippine island of Mindanao. More precisely in the province of Misamis Oriental. The agreement was signed with the Chinese investment Fund Huili Investment Fund Management. The agreement signed between two Philippine companies. It SteelAsia and PHIVIDEC Industrial Authority.

Interestingly, in November signed a similar agreement. It made the Chinese company Panhua Group. It seems that it is one and the same project. However, it appears that there are two options for its implementation. The financing of the first stage will deal with Huili Investment Fund. He will allocate for it $ 3 billion. In the first phase will be the construction of two blast furnaces. Presumably, the process will last 3−5 years. Also the first stage involves the construction of the hot mill and cold rolling. In addition, the Fund will allocate a further $ 1.4 billion. Funds will be used for the manufacture of steel products with high added value. For example, sheet steel coating and sheet.

The first stage involves the production of 4.5 million tons of hot rolled coils. This refers to a year. In the second phase, the capacity will increase to 8 million tons. Also referred to slabs. The planned production of 600 thousand tons per year. However, it is most likely sortovyy rental. This explains the presence of the company SteelAsia. It is the largest valve manufacturer in the Philippines. Now it is engaged in construction of two plants for the production of wire rod. Overall, the project could be the biggest Chinese investment. This refers to the Philippines.

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