L-R: MDC A+E Design & Sustainability Head Jeremy G. Acosta, Ayala Land Sustainability Head Anna M. Gonzales, Ayala Land Chief Sustainability Officer Robert S. Lao, SteelAsia President and COO Sean Andre Y. Sy, MDC CFO Jose C. Platero, Jr., and SteelAsia Chief Sustainability Officer Stephen J. Araneta

SteelAsia Manufacturing, Ayala Land Inc. (ALI), and Makati Development Corporation (MDC) signed a memorandum of understanding for a groundbreaking collaboration advancing circular economy and decarbonization methods in the construction industry.

SteelAsia Manufacturing (SteelAsia), the country's leading steel company, will supply Ayala Land Inc.'s (ALI) construction arm Makati Development Corporation (MDC) with rebars made from recycled materials as part of the firms' sustainability initiatives.

Sustainability officers from ALI, MDC, and SteelAsia signed a memorandum of understanding (MOU) on Feb. 28 to formalize their partnership.

In a joint statement, the firms said they have found a "common ground to pursue a common goal: reduce and recycle waste to protect the environment and fight climate change."

"At the same time, this partnership will result in lower project costs, push industrialization, and save precious dollars. This is circular economy in action," they added.

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