Around $1.8 Billion Investments Awaits National Steel Corporation (NSC) in Mindanao


The country's former dominant player in the steel industry, the National Steel Corporation (NSC) will be revived and around$1.8 billion of investments are now awaiting for disposal. The information was revealed first Vice Mayor Vera Cruz of Iligan City during a flag raising ceremony held on March 13, 2017.


Vice Mayor Vera Cruz' information came from no less than Pres. Rody Duterte himself who told the Vice Mayor that a businessman of a multi-billion company had expressed interest in the said project.

During the past few years the closure of the National Steel Corporation became the main reasons why the unemployment rate in Iligan City rise drastically. The company was sold to under-capitalized Malaysian firm which turned its back and left the government holding the debt.



Some sources revealed that the estimated $1.8 billion investment to the National Steel Corporation (NSC) will be the biggest investment to ever flow in Northern Mindanao region.

The good news about the possible re-opening of the National Steel Corporation brought positive reactions for the people of Iligan City.

President Duterte's meeting with some investors surprised the Local Government Unit (LGU) of Iligan City. The investment for the NSC is even bigger compared to the biggest mall in the Philippines, the SM Seaside Cebu project.

Watch the Announcement of Vice Mayor Vera Cruz About the NSC Investments:


Source: Iligan City LGU FB Page



Around $1.8 Billion Investments Awaits National Steel Corporation (NSC) in Mindanao Around $1.8 Billion Investments Awaits National Steel Corporation (NSC) in Mindanao Reviewed by Phil Newsome on 3/18/2017 Rating: 5

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