Friday, February 17, 2012

News Update Construction of P2-B steel plant approved

CONSTRUCTION of the country's biggest steel plant will soon start after the City Council approved the reclassification of a property in Bunawan Proper in Davao City where the plant will be established.
The P2-billion plant is one of the biggest investments that will be poured in the city this year.
Committee on urban development chair Councilor Arnulfo Cabling said the reclassification of at least 12-hectare property in Purok 7 in Bunawan was approved during the council's regular session on February 7.
The proposed plant is a project of New Carcar Manufacturing Inc., a steel bar company and subsidiary of SteelAsia, one of the biggest rolling bar producers in the country.
The company only needs a building permit from the City Government to start the plant's construction, Councilor Bernard Al-ag, committee on housing said.
Carcar Manufacturing is pouring in P4.6 billion investment for the project, P2 billion of which will be used for the plant construction and the remaining P2.6 billion for the equipment needed for plant operations.
The project is expected to boost further Davao City’s construction industry.
Cabling said Carcar Manufacturing is also readying their proposal on greening programs that go along with the construction. These include planting, caring and growing of trees.
"They (company) asked for an extension in the presentation of the greening program," the councilor said, adding that the company vowed to implement in the best way they can.
The greening program is aimed at offsetting the steel plant's carbon emission.
Cabling said the company will also tap private sectors to help them with the implementation of the greening program.
The councilor added that the steel plant will generate jobs for Dabawenyos.