Steel mill starts construction in Q1

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    Global Ferronickel Holdings Inc. (FNI), said construction of its $50-million rebar steel rolling plant in Bataan will start by the first quarter next year.

    Dante Bravo, FNI president, told reporters in a virtual briefing funding for the project will be internally generated but will tap credit if needed.

    Construction, originally planned this year, was pushed bacj due to the pandemic.

    The plant will start commercial operations in 2022 and will have an annual output of 600,000 tons of steel bars. — Jed Macapagal