Latest news with #ExecutiveOrder18
GMA Network
5 days ago
- Business
- GMA Network
SteelAsia unit's P30-B heavy steel recycling mill gets green lane status
Candelaria Steel Inc. facility in Candelaria, Quezon. Photo courtesy of SteelAsia The Board of Investments has granted green lane status to Candelaria Steel Inc.'s, a subsidiary of SteelAsia Manufacturing Corp., P30-billion heavy section mill and new-generation scrap recycling mini-mill project in Candelaria, Quezon. In a news release on Wednesday, the BOI said it awarded Green Lane Certification to Candelaria Steel last July 3, 2025. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues. In February 2024, President Ferdinand Marcos Jr. issued Executive Order 18 mandating the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments. Strategic investments are those that are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by the significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country's balance of payments; with complex technical processes and engineering designs; and will improve the country's infrastructure capabilities. The BOI said Candelaria Steel's facility is scheduled to begin commercial operations by July 2027. The facility is expected to generate approximately 655 in-plant jobs and 3,000 indirect jobs, 'boosting local economic activity and enhancing the domestic steel supply chain.' The steel maker's project involves the construction of a state-of-the-art facility that will employ Electric Arc Furnace (EAF) technology, prioritizing sustainability by using locally sourced recycled scrap metal instead of imported raw materials. According to SteelAsia, the recycling process reduces CO2 emissions by a minimum of 70% compared to traditional blast furnace methods. The BOI said the plant will produce up to one million metric tons of heavy steel sections annually, including angles, channels, H-beams, I-beams, sheet piles, and universal mill plates. The project is strategically designed to address the country's heavy reliance on steel imports, which currently adds 3 to 4 months to local production timelines, the BOI said. The Candelaria steel mill will complement SteelAsia's medium section mill in Lemery, Batangas, which was also endorsed for Green Lane Certification by the BOI in 2023. The Lemery facility, currently under construction, will produce medium sections and merchant bars—products that are currently 100% imported. Both plants intend to supply the Bataan-Cavite Interlink Bridge Project and help close critical gaps in domestic steel production, support fabrication shops, and boost the country's industrial competitiveness across Southeast Asia, according to the BOI. The steel industry remains a cornerstone of Philippine industrialization, supporting sectors such as infrastructure, automotive, shipbuilding, electronics, and packaging, the investment promotion agency said. —AOL, GMA Integrated News
GMA Network
04-07-2025
- Business
- GMA Network
DTI-BOI green lane certifies 31 food security projects worth P18.7B
The Department of Trade and Industry (DTI), through the Board of Investments (BOI), has granted Green Lane certifications to 31 food security projects as of the end of the first half of 2025. In a statement, the DTI said the approved 31 food security projects are worth P18.7 billion in investments and are expected to generate over 7,000 jobs. In February 2023, President Ferdinand "Bongbong" Marcos Jr. issued Executive Order 18, which mandated the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues. Strategic investments are those which are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by: significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country's balance of payments; with complex technical processes and engineering designs; and will improve the country's infrastructure capabilities. The DTI said the food security projects range from modern breeder farms to a major coconut processing facility. The Trade Department said strategic investment projects will boost local food production while stimulating employment in agriculture and agribusiness. The agency added that a single coconut processing facility alone is projected to employ 4,725 workers, while a set of breeder farms is expected to create 1,009 jobs. "Our drive for food security goes hand in hand with creating sustainable jobs for Filipinos. This initiative directly addresses President Ferdinand Marcos Jr.'s directive to strengthen local production and lower food costs for Filipino families," said Trade and Industry Secretary and Board of Investments (BOI) Chairperson Cristina Roque. Broken down, the DTI said 31 projects consist of the following: 17 breeder farms, eight fattening pig production facilities, a feed mill, a cold storage facility, a greenhouse vegetable production, an integrated dairy farm, a wean-to-finish farm, and a coconut processing facility. The Trade Department noted that 17 of these projects are in the pre-development stage, seven are under construction, six are already operational, and one is in the pre-operational status. Since its launch in February 2023, the Green Lane initiative has approved 222 projects worth a combined P5.75 trillion in investments through the DTI-BOI's One-Stop Action Center for Strategic Investments. Collectively, these projects are expected to generate over 319,000 jobs. Of the 222 Green Lane projects, 176 are in renewable energy, 31 in food security, nine in digital infrastructure and public-private partnerships (PPP), and six in manufacturing. — VDV, GMA Integrated News
