Marcos bares National Steel Corp. revival plan

 

MANILA, Philippines—President Ferdinand R. Marcos Jr. said there are ongoing discussions among local and foreign groups regarding the revival of the National Steel Corp. (NSC).

The development was announced during the Regional Development Council of Northern Mindanao meeting in Cagayan de Oro City on Tuesday, said the Presidential Communications Office (PCO) on Wednesday.

READ: Mining seen playing key role in steel industry revival
The idea was pushed to restore the city’s status as the “industrial city of the South” and create jobs.

“There are already discussions among certain groups, both foreign and local, that would ensure a partnership to revive the steel mill,” Marcos said in the meeting.

He also noted that producing steel locally “is critical for any industrialization that we are planning.”

The PCO added that Marcos instructed the Department of Energy to evaluate the capability of the Agus-Pulangi Hydropower Complex in Maramag, Bukidnon, to supply the necessary power needed to operate a steel mill.

The complex comprises seven run-of-river hydropower plants with a total installed capacity of around 1,000 megawatts.

“I will bring your concerns to Secretary (Raphael) Lotilla of the Department of Energy to see what’s possible. We need to do a technical analysis to determine if we can meet the 1,500 MW power production threshold,” Marcos said.

The NSC was one of the largest Philippine enterprises. It ceased operations in 1999 due to alleged mismanagement, lack of financial support, and other factors.