Manila: The Philippines’ largest steel producer, SteelAsia Manufacturing Corp., has announced a significant export of steel to Canada for a major subway project in Vancouver. This recent shipment includes 32,000 metric tons of high-strength reinforcing steel, valued at PHP1.1 billion or approximately USD19 million, and was dispatched on January 30 from SteelAsia’s facility in Davao.

According to Philippines News Agency, this latest consignment brings SteelAsia’s total shipments for the Vancouver subway project to 87,000 metric tons, with an overall value amounting to PHP3.2 billion. Benjamin Yao, SteelAsia’s chair and chief executive officer, highlighted that the repeat orders from the same buyer and project signify a strong vote of confidence in the company’s reliability as a supplier and the quality of its products. Yao also noted that SteelAsia enjoys a similar level of trust locally, with top developers being their most loyal customers.

Last year, Yao outlined a PHP65-billion investment strategy aimed at expanding SteelAsia’s production capabilities by establishing four new manufacturing facilities across Luzon and Mindanao. The company recently reinforced its commitment to this plan by confirming a PHP30 billion investment in the Candelaria plant located in Quezon province. This investment is targeted at producing heavy structural steel products, which are currently being imported from countries such as China, Vietnam, Thailand, South Korea, and Japan.

With the development of these new facilities, SteelAsia’s production capacity is set to double from its current 3 million metric tons to an impressive 6 million metric tons, positioning the company to better meet both domestic and international demand.