4,000 jobs tied to $1-billion steel plant set to open in Sarangani

Panhua Group may begin phase one operations as early as June, with a $3.5-B industrial complex.

A $1-billion steel plant is about to open in Sarangani in Mindanao, bringing 4,000 jobs and giving the Philippines a chance to produce more of the materials that keep construction projects, factories, and businesses running.

China’s Panhua Group is expected to begin operating the first phase of its steel manufacturing complex as early as June or July, according to the Department of Trade and Industry (DTI). The initial phase will produce metal sheets, but the company’s larger plan goes far beyond that.

Panhua has committed up to $3.5 billion for a massive industrial development that includes an integrated steel mill, a port, an industrial park, and supporting industries across a 305-hectare site in Sarangani.

The project could help strengthen local supply chains while creating thousands of jobs outside Metro Manila, especially for a country that still relies heavily on imported steel products.

At the same event, the DTI said the government is also working with Chinese electric vehicle manufacturers interested in setting up operations in the Philippines. The push comes as transport cooperatives gain access to low-interest financing aimed at helping operators switch to electric vehicles, cut operating costs, and keep pace with transport modernization.

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