Chinese steel conglomerate Panhua Group is currently negotiating for lower rental fees for their planned $3.5-billion integrated steel complex to be developed on a 300-hectare property within the Phividec Industrial Estate in Misamis Oriental. This was disclosed by Philippine Economic Zone Authority (PEZA) Director-General Charito Plaza as more Chinese firms are reportedly trying to relocate to avoid the high tariffs imposed by the US on goods manufactured in China.
More details at Manila Bulletin article in the link below.
It can be recalled that last June 2018, PEZA and Phividec officials traveled to Panhua Group’s headquarters in Zhangjiagang, China, visited its steel mills and signed a Memorandum of Understanding (MOU) with Panhua for the multi-billion dollar project. Read our previous post below.
PROJECT WATCH: Panhua Group to put up $3.5 B integrated steel mill at Phividec