Due to the energy deficit in the Philippines, a large metallurgical plant was stopped

The large Philippine metallurgical company TKC Steel Corp. In any way, it stopped the production of products at the factory in the city of ligan due to a shortage of electricity on the island of Myandanao. This was stated by the press service of the company.

The press release indicates that the Electric Arc Furnace plant (EAF), which is managed by the Treasure Steelworks Corp. subsidiary, temporarily suspended the production of steel blanks in full due to constant lack of electricity, which can adversely affect the performance of the equipment. According to the company from the Energy Sector of the Philippines, the plant in ligan for three years received less than half the volume of electricity from its consumed capacity.

A further reduction in electricity supplies threatened not only the failure of production equipment, but also the safety of the plant workers to use diesel generators at once in several production sites.

Treasure Steelworks Corp. It plans to launch production at the EAF plant as soon as the energy supply will be fully restored in the Mindanao electric network.

All blast furnaces at the factory did not stop, the production of nickel, cast -iron and steel flaps is carried out in small quantities, since these products are in great demand in the export market, and the full simple factory will bring huge losses to its owners.

According to the audit conducted by the National Energy Company of the Philippines, at the time of stopping the plant, the electricity deficit in the Mindanao network amounted to 148 megavatts. Despite this situation, TKC Steel Corp. shares. Redeated in the stock market by 4.62 percent.