Chinese Steel Company eyeing $3-B investment in Tagoloan,Misamis Oriental

The biggest steel company in China, Ansteel Construction Group Corporation is eyeing three possible sites in the Philippines to build the $3B billion facility- Misamis Oriental, Subic, and Pampanga.

But it seems that Tagoloan town in Misamis Oriental is the best place suitable for the project in terms of requirements such as water supply, electricity and even the land area.

 Sunstar reported that the Provincial Information Officer Nicole Managbanag said after meeting up with the Chinese businessman and site inspection, Misamis Oriental Governor Yevgeny Emano was positive that the company will pick Misamis Oriental. Aside from Steel factory, they are planning to set up a cement plant where all the wastes from the steel plant will be placed.

If the investors will choose the province, these would help the economy of the province and will give more job opportunities since they need a total of 50,000 workers, Managbanag added.

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