DBP inspects SteelAsia rolling mill as Bank eyes new financing deal

State-owned Development Bank of the Philippines (DBP) President and CEO Emmanuel G. Herbosa (right) and SteelAsia Manufacturing Corporation (SteelAsia) President Benjamin Yao confer with each other during a site visit of the firm’s Calaca Meltshop and Rolling Mill in Calaca, Batangas as part of the Bank’s exploratory efforts on a possible new financing deal with the company.

In 2020, the Bank was the sole lender of the P8.3-billion rolling mill project of the CompostelaSteel, Inc. – a subsidiary of SteelAsia, which is considered as the biggest steel-making facility in the Philippines.