MZMC and its partner, a Chinese company, Shenzhou Investor Corporation on Saturday, June 18, broke ground for the construction of the 100-hectare industrial complex and the 50-hectare steel mill and smelting plant in Barangay Sta. Cruz, Diplahan town in Zamboanga Sibugay.
Leonardo Fernandez, the president and Chief Executive Officer of MZMC said the project with an estimated cost of about one billion US dollars will house the iron core crushing, integrated steel mill and smelting plant, and industrial laboratory which is the first in the country, wherein they will drill the ore materials for steel and later make it into steel bars.
Currently, Fernandez said “what we do is we send the ore materials to China and then buy them like a steel product already. He said once the smelting plant is finished, the country will no longer transport the ore materials since the facility can process the ores into steel.
“We will build the first steel mill and smelting plant with a target volume of 1.5 million steel production per year,” Fernandez said in an interview.
The project, which will commence soon will be constructed for 3-4 years and can employ up to 20,000 workers.
Shenzhou Investor Corporation Chairman Ninchy Lin, for his part, said the project will create opportunities for the people to have more jobs, as well as for the government to have more tax income.
MZMC had earlier signed a Memorandum of Agreement with the Subanen Tribe for the utilization of 15,000 hectares for iron ore exploration, extraction, and processing. The minable iron ore property is located in the municipality of Bayug in Zamboanga del Sur.
The construction of Mount Zynai Industrial Park is the response of the private sector to President Rodrigo Duterte’s challenge of bringing about genuine development ( Tunay na Pagbabago) to the lives of Filipinos by providing easier access to farms and easily transport their agricultural products at low cost and in great quantities to industries and economic zones located in Diplahan, Zamboanga Sibugay.
Outgoing National Security Adviser Hermogenes Esperon, was the guest of honor and speaker during the groundbreaking ceremony.
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