SteelAsia Manufacturing Corp has obtained a P1.25 billion green loan from Cathay United Bank to fund its low-carbon steel operations in the Philippines. The company utilizes Electric Arc Furnace technology and steel scrap recycling to significantly reduce carbon emissions compared to traditional blast furnace methods. The funding will support the expansion of green steel facilities, including a new medium sections mill in Batangas. SteelAsia aims to scale this model across several new sites to modernize the regional steel industry and reduce annual CO2 emissions.
