SteelAsia Manufacturing Corp has partnered with Cathay United Bank to secure a P1.25 billion green loan. The funds will support the company's use of Electric Arc Furnace technology, which replaces coal with electricity and scrap recycling to lower carbon emissions in steel production. The company aims to scale its low carbon methodology across new facilities, including a new medium sections mill in Lemery, Batangas. This move follows the success of its Calaca mill, which reports a carbon footprint significantly lower than the global average for traditional steelmaking.
