$700 Million Dollars Stainless Steel Plant Will Soon Rise in Philippines
Global Ferronickel Holdings Inc has signed a Memorandum of understanding with China's Bailyn Nonferrous Group Co. the biggest steel manufacturer in the mainland, as a result of President Rodrigo Duterte's recent state visit in China.
(source bloomberg)
The deal also will hand out trade financing to Global ferronickel to develop its existing mines in Ipilan Palawan.
The establishment of a stainless steel plant is expected to boost economic growth as steel is the primary products used in many applications from construction to machines to automotive parts. The MoU itself made headlines in international trading news such as this article in bloomberg market.
read more in source link
“We recognize the importance of promoting close cooperation with China to spur economic growth in the country,” Global Ferronickel Chairman Joseph Sy said in a separate statement. “We see Baiyin as a strong partner who will play a vital role with us in creating greater value added in the nickel value chain.”
excerpts from bloomberg
excerpts from bloomberg
PHILIPPINES SHOULD DEVELOP ITS OWN STEEL INDUSTRIES. WHERE IS THE NATIONAL STEEL CORPORATION?
ReplyDeletesold by ramos to malaysia
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THAT....MR.TABAKO...SHORT SIGHTED IDIOT,...
ReplyDeleteBaiyin is chinese owend will partner with Philippines Global Ferronickel also owend by Chairman Joseph Sy another chinese.
ReplyDeletewhy should we worry that they are chinese? eversince we are surrounded by chinese businessmen and had been dealing with them for centuries. As long as they will abide with our labor codes.. then it surely will be a great help for the unemployed
ReplyDeletewhy should we worry that they are chinese? eversince we are surrounded by chinese businessmen and had been dealing with them for centuries. As long as they will abide with our labor codes.. then it surely will be a great help for the unemployed
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