P10-B steel mill project now in Green Lane

The over  P10-billion domestic rolling mills project in Pampanga of Real Steel Corporation is now included in the priority projects of the Board of Investments and has been granted Green Lane certification.

Real Steel Corporation was founded in 2006 and erstwhile known as Grande Steel Corporation was into the importation of steel bars and selling them in the Indonesian market.

Last Wednesday, the company announced that its P10.307-billion project that will produce reinforcing steel bars, or "rebar", formally received its certificate of endorsement from the Bureau of Investments and is now among the 16 projects in the country endorsed under Executive Order 18, an order that constitutes Green Lanes for Strategic Investments.

Green Lane initiative

"Real Steel commends the BoI for promoting a green lane initiative as this will boost more interest amongst investors and further boost domestic production capability and self-sufficiency. We are dedicated to spearheading sustainable practices within the steel industry, and this endorsement is a testament to our continuous efforts to drive sustainable business practices. It not only showcases our commitment to innovation but also highlights our dedication to sustainability and economic progress," said William Chen, CFO of Real Steel Corporation.

Real Steel's rolling mills operation is set to produce 600,000 metric tons of reinforced steel bars per annum.

The steel manufacturer has also been actively revamping its facilities and equipment, aiming to introduce a cutting-edge 16.8 megawatt-peak rooftop solar photovoltaic system at its advanced manufacturing facility located in San Simon, Pampanga.

Rooftop solar PV system

By implementing the largest rooftop solar PV system in the Philippines, Real Steel is accelerating the production of lower-carbon high-quality steel products for the local market.

This investment in renewable energy technology is anticipated to significantly reduce operational expenses for Real Steel while limiting its carbon footprint.

"The BoI prioritizes the creation of integrated steel mills, utilizing local resources such as steel scrap and relying less on imported billets. Real Steel's strategic efforts in sustainable practices, including its efforts in acquiring LEED and ISO certifications, as well as the recent solar rooftop project, are laudable steps toward a greener and more sustainable future for the steel industry in the Philippines," Marjorie Ramos-Samaniego, BoI governor, for her part, said.