Chinese steel giant Panhua Group is set to launch the first phase of its $1-billion integrated steel manufacturing project in the Philippines next month, marking one of the country’s biggest foreign industrial investments in recent years.
Trade Secretary Cristina Roque said the project’s initial phase will focus on sheet manufacturing operations at the company’s facility in Barangay Kamanga. The plant is expected to create about 4,000 jobs, boosting employment and industrial activity in the region.
Speaking Monday, Roque said Panhua remains “very bullish about the Philippines” following her meeting with company executives in Suzhou last week.
She added that discussions also centered on Panhua’s long-term expansion strategy and potential future investments in the Philippine steel sector, signaling confidence in the country’s manufacturing outlook.
According to Roque, the talks reinforced the Philippines’ partnership with Panhua in driving investments, strengthening supply chains, and supporting sustainable industrial growth.
The massive steel venture aligns with the government’s push to attract more large-scale foreign manufacturers and build a stronger domestic industrial base.
Once fully operational, the integrated steel complex is expected to expand local steel production capacity and help meet rising demand from the country’s infrastructure and construction sectors.
