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A few days ago, heibei iron and steel group Philippines iron and steel project cooperation memorandum was formally signed.The project is located in fiverdek industrial park, cagayan DE oro city, Mindanao island, the Philippines. Hegang group and the Philippine Asian iron and steel company have led the formation of an investment consortium to build a steel joint enterprise integrating port, sintering, coking, pellet, iron refining, steelmaking, rolling and deep processing.Iron and steel supporting production scale is about 8 million tons per year, with a total investment of about 4.4 billion us dollars, and the construction cycle is 3-5 years.