MPIC, Mitsui, and SteelAsia Join Forces to Create a Sustainable Steel Recycling System in the Philippines

PASIG, Philippines, 20th August 2025 – Metro Pacific Investments Corporation (MPIC), the Philippines’ leading infrastructure investments company, has entered a Memorandum of Understanding (MOU) with Mitsui & Co. (Asia Pacific) Pte. Ltd. Manila Branch (Mitsui) and SteelAsia Manufacturing Corporation to explore the creation of a closed-loop steel recycling system that supports a circular economy. 

Building a Closed-Loop for Steel in Construction

The partnership will assess the feasibility of a model where steel scraps from MPIC Group supply chain are purchased by Mitsui and recycled by SteelAsia, then sold back in the market for reuse in infrastructure projects. This initiative will maximize the value of steel, reduce the reliance on newly mined materials, cut carbon emissions, and keep resources in continuous productive use.

This initiative goes beyond just recycling, it represents a fundamental shift on how we approach sustainable growth,” said June Cheryl A. Cabal-Revilla, MPIC Chief Finance, Risk, and Sustainability Officer. A closed-loop system for steel means less extraction, fewer emissions, and stronger local supply chains. This model delivers lasting value for the economy, the environment and our communities.” 

Driving Sustainability Across the MPIC Group

Under the proposed model, MPIC will work closely with its operating companies to identify the volume and types of steel scrap generated within the Group. Mitsui will integrate and manage the flow of recovered scrap to SteelAsia, which will manufacture high-quality “green steel” products for potential use in future infrastructure projects.

This effort is in alignment with MPIC’s sustainability framework, which integrates economic, environmental, social, and governance (EESG) principles into both strategic planning and daily operations. The company continues to prioritize innovation, responsible growth, and long-term resilience, advancing its mission to build a greener, more resilient Philippines. 

A Shared Vision

SteelAsia President Sean Andre Y. Sy expressed a positive outlook about the collaboration: “SteelAsia proudly drives the circular economy in construction using our green steel technology. We find ourselves in good company with MPIC and Mitsui who share our commitment to adopt sustainability as one of their core values. By recycling domestic waste, together we advance the country’s economic development in the best way possible.”

“What makes this steel recycling system even more sustainable is that it produces green steel through SteelAsia’s low carbon emission technology–good for business and good for the environment,” he added. 

Mitsui Branch General Manager Kazuhiro Nomura added, “We are pleased to announce the signing of a MOU with MPIC and SteelAsia for the joint study on closed-loop steel recycling. By leveraging Mitsui’s extensive experience in scrap and steel trading, we aim to realize this initiative and contribute to the creation of a more sustainable society.”

By rethinking how steel is sourced, used, and reused, MPIC, Mitsui, and SteelAsia are helping ensure that the country’s infrastructure growth is efficient, responsible, and supportive of stronger local supply chains for the future.

*******   ********

About Metro Pacific Investments Corporation (“MPIC”)

MPIC is a leading Philippine company with investments in power, toll roads, water, light rail, healthcare, waste management, real estate and agriculture. The Company seeks to create long-term value for all its stakeholders through responsible and sustainable investments that contribute to national progress and improve the quality of life in the communities it serves.

MPIC and its group of companies are making a difference in the lives of millions of Filipinos, powering commerce and households, connecting people and places, delivering clean and safe water, and making world-class healthcare available to all.

About Mitsui & Co.

Mitsui & Co. is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries.

The company identifies, develops, and grows its businesses in partnership with a global network of trusted partners including world leading companies, combining its geographic and cross-industry strengths to create long-term sustainable value for its stakeholders.

Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.

Visit https://www.mitsui.com/jp/en/ for more information.

About SteelAsia Manufacturing Corporation 

SteelAsia is the county’s flagship steel manufacturer and one of the largest rebar producers in Southeast Asia with mills across the archipelago. Nearly all high tensile rebar requirements for infrastructure, high-rise, and other heavy construction in the country are supplied by SteelAsia. Recently, the company became the global benchmark for producing green steel by having one of the lowest CO emissions in the world, 90% lower than traditional steelmaking. SteelAsia’s expansion plans in the next four years could avoid 7 million tons of CO2 per year. Find out more on  http://www.steelasia.com/ .

For further information please contact:

Melody del Rosario

Vice President, PR & Corp. Comms (MPIC)

Cel. No. 09189635639