Chinese Ambassador to the Philippines Huang Xilian announced that China’s Panhua Group will begin the construction of a massive $3.5-billion integrated steel manufacturing complex in Maasim town, Sarangani province within 2025.
Speaking to the Philippine media at the Chinese Embassy in Manila, Huang hailed the project as a “milestone” that reflects China’s strong confidence in the long-term economic prospects of the Philippines.
“It’s a symbol of our confidence in long-term Philippine development,” he said.
The Panhua steel complex, first launched with an opening ceremony in 2018 under the administration of then-President Rodrigo Duterte, experienced delays over regulatory issues, site development challenges and the COVID-19 pandemic.
Now back on track, the project is expected to generate 25,000 jobs, including 20,000 positions for Filipino workers.
Panhua Group, headquartered in Zhangjiagang City, Jiangsu Province, is one of China’s leading exporters of steel products. The Sarangani project will mark its largest investment in the Philippines to date.
Beyond heavy industry, Huang emphasized China’s growing investments in the Philippines’ green and digital sectors. These include electric vehicle charging infrastructure, renewable energy technology, 5G network expansion and smart grid development.
Huang said that China, as the world’s largest manufacturer of renewable energy, is willing to share its technologies in solar power, wind energy and smart infrastructure with the Philippines.
