New equipment and facility for the production of pigiron

Tag : Steel Making
Manila Bulletin Online reported that after decades of dreaming tohave an integrated steel industry, the country is given a glimpseof a dream fulfilled with the construction of over PHP 1 billion blast furnace and beneficiation plant for the production of pigiron, a primary steel product, by the TKC Steel Group, which isexpected to put on stream its small scale integrated steeloperation in October this year.

Mr Elmer C Hernandez trade and industry undersecretary and board ofinvestments managing head said that this after making a side tripto the TKC plant during the recent inauguration of the plate milloperation of Global Steel Philippines Inc in Iligan.

He said that "I’ve seen the new equipment and facility when Ivisited the site. This new unit of TKC is being constructedadjacent to the billet shop, which its sister company TreasureSteelworks Corp. is currently leasing from GSPI in Iligan and isnow producing billets.”

He added that TKC Steel which had already applied for registrationwith the BoI but withdrew it later, is expected to refile itsapplication.

Mr Hernandez said the project may be entitled to pioneer incentivesconsidering that the technology is considered new as there is nocommercial operation of this kind yet in the country.

According to Mr Hernandez, the company is also in the midst ofconstruction and the installation of equipment imported from China.An estimated PHP 300 million to PHP 400 million in capital has beenpoured already into the project.

Mr Hernandez said the company would utilize local supplies of ironlaterite to be processed in the beneficiation plant to come up withbeneficiated iron or iron concentrate iron, which in turn becomesthe raw material for the blast furnace to produce pig iron, aprimary steel product.