050207: EEI to build P154-M steel fabrication facility

By Ma. Elisa P. Osorio
The Philippine Star 05/02/2007

Construction giant EEI Corp. will build a new P154 million facility in Batangas that will fabricate steel products for the export market.

The project, which was given the package of fiscal and non-tax incentives by the Department of Trade and Industry (DTI) for being a new export producer, will be operational by June. The project falls in the list of preferred industries under the 2006 Investment Priority Plan.

The project involves the installation of a new line to fabricate steel products like modular assemblies, modular systems and modular system components for industrial application.

According to EEI, all the steel products produced from the new facility will be exported to various countries. The fabricated steel products are to be used mainly for the set up of an industrial company like mining, refining and cement.

The new facility, which is expected to produce 22,529 metric tons of steel per year, will be built next to EEI’s existing facility in Bauan, Batangas. The new plant will generate over 3,000 new jobs.

The components for the project include pressure vessels, non-pressure vessels, structural steel, steel piping, mechanical parts and ducting, electrical and instrumentation parts and other miscellaneous steel fabrications.

EEI, which is 92 percent Filipino- owned and eight percent foreign, is a member of the Yuchengco Group of Companies. It is engaged in large-scale construction in the domestic and overseas markets. It is the country’s leading construction company and has been engaged in infrastructure, high-rise and property development, and industrial construction in both the domestic and Middle East markets.

The company, through its other subsidiaries and affiliates, is also engaged in manpower services, cargo transport, ship repair, steel fabrication, power generation and the development of real estate properties.

 

http://www.philstar.com/philstar/NEWS200705020710.htm