Panhua Group has signed an equipment supply contract with Shaanxi Blower Group (ShaanGu) for its Philippine project, Kallanish notes.

ShaanGu says it will supply the complete set of equipment for the first phase of Panhua's Philippine project, which has a total investment of $3.5 billion.

Li Xinghua, Chairman of Panhua Group, said at the signing ceremony: "The Philippine project is Panhua's most strategically significant project. With the commissioning of Panhua's 1,580 hot rolling line, Panhua's demand for steel semis is increasing day by day. After the completion of this project, Panhua will have a complete industrial chain system.”

In September 2019, Panhua signed a memorandum of understanding with the Philippine Economic Zone Authority on constructing an integrated steel mill in Misamis Oriental Province. The company plans to build it in three years to reach 10 million tonnes/year of flat products capacity, which will also be used to meet demand from infrastructure construction (see Kallanish passim).