company to construct P500M plant in Batangas - DTI
December 14, 2018
MAKATI – The
Department of Trade and Industry (DTI) Secretary Ramon Lopez and
Puyat Steel Corporation Chairman Edgardo Reyes discussed the plan of
expand the steel manufacturing base in the Philippines as a way to
answer the country’s growing demand for steel products and reduce
the trade deficit through import substitution.
During their meeting on 11
December with the DTI, Chairman Reyes reported that Puyat Steel is
constructing a Php 500-million pipe manufacturing plant in Batangas
that will produce steel pipes of up to 3 meters in diameter and to
create 350 new jobs. It will be located beside the company’s
existing plant in Batangas, and will begin operation in the first
quarter of 2019.
Lopez is pushing for local
manufacturing companies to expand operations amidst a fast-growing
economy under the Duterte administration. Boosting the manufacturing
sector creates jobs, increases the production capacity to support
the rapidly expanding domestic demand and export requirements, and
helps reduce the trade deficit, said Sec. Lopez.
DTI pushing for fair trade
practices and a level playing field for domestic industries and is
therefore studying the inclusion of steel pipes and roofing
materials in the list of products requiring mandatory certification
to ensure that only quality standard materials are sold in the local
market, for the protection of consumers and users.
of industry standards, he further noted, will prevent substandard
imports and smuggled goods from entering the country. Undersecretary
Ruth Castelo, who heads the Consumer Protection Group, said that the
DTI advocates for the use of international standards for all local
and imported steel products.
Mr. Reyes said that while
they are facing challenges in maintaining its market share against
imported products, they are willing to invest to expand more as they
have the technology and know-how.
Puyat Steel Corporation is
a 62-year old company that established the first galvanizing plant
in the Philippines. They produce galvanized iron sheets for
construction, building, and roofing materials.