MANILA -- SteelAsia Manufacturing will partner with China Baowu Steel Group to build a 108 billion Philippine peso ($1.98 billion) facility in the Philippines as the country revs up infrastructure spending.
SteelAsia, the country's top steelmaker, and Baowu, the world's largest, will select a location as soon as February for the plant. It will produce 3 million tonnes of molten steel annually to be used for finished steel products, the Philippine company said.
