BOI grants green lane to Candelaria Steel's P30B steel project
The Board of Investments (BOI) has granted green lane status to Candelaria Steel Inc.'s P30-billion heavy section mill project in Quezon, set to start commercial operations by July 2027.
Candelaria Steel, a subsidiary of SteelAsia Manufacturing Corp., received the Green Lane Certification on July 3, 2025, which expedites permit and license issuance.
The facility is expected to produce up to one million metric tons of heavy steel sections annually, reducing CO2 emissions by at least 70% compared to traditional methods.
Candelaria Steel's project utilizes Electric Arc Furnace (EAF) technology and prioritizes sustainability through the use of locally sourced recycled scrap metal.
The plant will generate around 655 in-plant jobs and 3,000 indirect jobs, complementing SteelAsia’s medium section mill currently under construction in Lemery, Batangas.
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