MPIC pursues steel scrap reuse venture
‘This initiative goes beyond just recycling; it represents a fundamental shift in how we approach sustainable growth.’
Daily Tribune‘This initiative goes beyond just recycling; it represents a fundamental shift in how we approach sustainable growth.’
Executives from Metro Pacific Investments Corp., Mitsui & Co. (Asia Pacific) Pte. Ltd. Manila Branch and SteelAsia Manufacturing Corp. sign a memorandum of understanding to study the creation of a closed-loop steel recycling system.
Photograph courtesy of MPIC
Metro Pacific Investments Corp. (MPIC) is studying the possibility of creating a closed-loop steel recycling system through a memorandum of understanding with Mitsui & Co. (Asia Pacific) Pte. Ltd. Manila Branch and SteelAsia Manufacturing Corp.
The Pangilinan-led infrastructure conglomerate said Wednesday that the study will evaluate a model where steel scraps from MPIC’s supply chain are purchased by Mitsui, recycled by SteelAsia, and resold for use for infrastructure.
“This initiative goes beyond just recycling; it represents a fundamental shift in how we approach sustainable growth,” MPIC chief finance, risk, and sustainability officer June Cheryl A. Cabal-Revilla said.
Loop equals less extraction
“A closed-loop system for steel means less extraction, fewer emissions, and stronger local supply chains. This model delivers lasting value for the economy, the environment, and our communities.”
Under the proposed system, MPIC will identify the types and volume of steel scrap generated within the group, Mitsui will manage the flow of scrap, and SteelAsia will produce “green steel” products for future infrastructure projects.
SteelAsia president Sean Andre Y. Sy said: “We find ourselves in good company with MPIC and Mitsui, who share our commitment to adopting sustainability as one of their core values. By recycling domestic waste, together we advance the country’s economic development in the best way possible.”
Meanwhile, Mitsui branch general manager Kazuhiro Nomura said the company will leverage its experience in scrap and steel trading “to realize this initiative and contribute to the creation of a more sustainable society.”
