Local government chief executives and ranking provincial officials closely observed as representatives from the PANHUA Group, one of China’s largest steel manufacturing companies, presented the potential benefits of establishing a steel-manufacturing facility within the Kamanga Agro-Industrial Economic Zone, specifically in Maasim Municipality, on Friday.
The proposal includes the construction of a jetty or port in Maasim, aligning with the company’s expansion plans. PANHUA Group began the first phase of constructing a USD 3.5 billion manufacturing plant on a 300-hectare site in Misamis Oriental last year1.
Atty. Maria Theresa D. Constantino, President of the League of Municipalities of the Philippines (LMP) Sarangani Chapter and Mayor of Malungon, stated that the League of Mayors will discuss the proposal among its members before issuing a resolution endorsement.
Meanwhile, Maasim Mayor Zyrex Pacquiao urged his fellow members to support the PANHUA establishment, emphasizing its potential to boost economic stability and provide employment opportunities for Sarangans.
This investment is expected to significantly contribute to the local economy and support the region’s development goals. The PANHUA Group’s venture in Sarangani is part of its broader strategy to expand its business operations in the Philippines, following its initial investment in Misamis Oriental.
