Chinese firm to create 50,000 jobs in Mindanao

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Panhua Group, a Chinese steel company, will set up a steel factory  for $3.5 billion in investment at the PHIVIDEC Industrial Estate of the Misamis Oriental-Special Economic Zone in Mindanao, Philippines

The construction of the 305-hectare integrated facility is expected to generate 50,000 jobs for Filipino workers. According to Trade and Industry Secretary Ramon Lopez, construction will be completed in six to seven years.

The project will be done in three phases, and will consist of a port, an integrated steel mill with a capacity of ten million tons, as well as an industrial park.

Panhua’s Chairman, Xinghua Li, notes that he is optimistic about constructing more industrial parks in the country to increase employment and attract investments into rural areas of the Philippines.

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Reading Time: 1 minute

Panhua Group, a Chinese steel company, will set up a steel factory  for $3.5 billion in investment at the PHIVIDEC Industrial Estate of the Misamis Oriental-Special Economic Zone in Mindanao, Philippines

Reading Time: 1 minute

Panhua Group, a Chinese steel company, will set up a steel factory  for $3.5 billion in investment at the PHIVIDEC Industrial Estate of the Misamis Oriental-Special Economic Zone in Mindanao, Philippines

The construction of the 305-hectare integrated facility is expected to generate 50,000 jobs for Filipino workers. According to Trade and Industry Secretary Ramon Lopez, construction will be completed in six to seven years.

The project will be done in three phases, and will consist of a port, an integrated steel mill with a capacity of ten million tons, as well as an industrial park.

Panhua’s Chairman, Xinghua Li, notes that he is optimistic about constructing more industrial parks in the country to increase employment and attract investments into rural areas of the Philippines.

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