Chinese firm to create 50,000 jobs in Mindanao

Chinese firm to create 50,000 jobs in MindanaoPanhua 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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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...

Chinese firm to create 50,000 jobs in MindanaoPanhua 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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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