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DTI to expedite permit process for integrated steel projects in Philippines

Steel News - Published on Tue, 23 Apr 2019

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BWorld Online reported that Philippine Department of Trade and Industry will expedite the permit process for the construction of steel plants in the Philippines on orders from President Mr Rodrigo R Duterte. According to a DTI statement issued last week, “Trade Secretary Mr Ramon M Lopez vowed to closely coordinate with all government agencies so that permits and licenses for critical steel projects are issued within 20 days from filing and to intensify DTI’s effort in tracking and weeding out substandard steel from the market particularly as these are typically being used in lower-end housing.”

The DTI said that “President Duterte assured investors that government will address the two issues raised – slow permit and licensing processes [eg, land conversion, environmental permits etc] and absence of level playing field because of sub-standard imported and locally-manufactured steel.”

Mr Duterte recently assigned the DTI to monitor and coordinate all government efforts to ensure the timely implementation of investment projects that will bring integrated steelmaking to the country.

At present, Steel Asia Manufacturing Corp is the only domestic firm with current plans to put up an integrated iron and steel plant. Last December, Steel Asia, HBIS, Huili Investment Fund Co Ltd, the Trade and Defense departments inked a deal for a USD 4.4 billion integrated steel facility inside the Phividec Industrial Estate in Misamis Oriental. The Mindanao steel facility will produce major intermediate steel products including billets and slabs that are currently only sourced from imports.

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Posted By : Sanju Moirangthem on Tue, 23 Apr 2019
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