The setting up of a liquid steel plant as a result of the agreement recently signed by the Philippines and China will help revive the country’s steel industry, according to Philippine Ambassador to Beijing Jaime FlorCruz on Saturday.
“Kung titingnan po natin iyong 14 agreements, nakikita po naman natin na mukhang solid naman ang mga proyekto na nasa table ngayon. Halimbawa po, iyong agreement ng Baowu Steel at SteelAsia,” FlorCruz said at a media forum in Quezon City.
“Ang ini-expect po natin ay magpapasok ng 1.5 to 2 billion dollar investment para magtayo ng unang-unang liquid steel plant,” the envoy added. "So ang plano pong ito ay mag-uumpisa iyong ating steel industry. Kasi kung wala tayong steel industry na sarili, iyong manufacturing natin, lalo lagi tayong reliant on imports."Fourteen bilateral deals were signed during President Ferdinand "Bongbong" Marcos Jr.’s state visit to China from January 3 to 5, includingThese deals were in the sectors of agriculture, infrastructure, development cooperation, maritime security, and tourism, among others.
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