Filipino Steel Mill Slated to Open in July

The Filipino company TKC Steel expects to finish the construction of its $9.66 million plant in Iligan City, The Philippines by this July.

The facility will increase the TKC’s production capacity of steel billets by making the production process cheaper and more efficient, and reducing the company’s dependence on limited supplies of scrap metal as raw material.

“TKC is currently in the completion phase of the construction of its blast furnace and ore beneficiating plant. The facility is projected to move into commissioning phase in the third quarter of this year,” the company said in a statement.

When fully operational, the facility will be capable of producing as much as 400,000 metric tons per year of liquid iron, which will be used as raw material feed for the production of steel billets. Further, when completed, the facility will be the largest steel billet-making facility in the country.

In a statement, TKC said its new facility would help revitalize the country’s mining industry.

TKC claims to have about five million metric tons of raw iron ore reserved for the company from local mining firms. This is enough to meet TKC’s needs for the next five years.