Cagayan de Oro, Aug 3 — Local officials and the National Economic and Development Authority (NEDA), the government’s think thank in Northern Mindanao has lauded the rebirth of the mothballed National Steel Corporation (NSC) in Iligan City.
NEDA 10 Regional Director Myla Faye Carino expressed full support in the revival of NSC saying the integrated steel plant will spur economic activity in the region, support downstream businesses, and create thousands of jobs for the people of Mindanao.
Cagayan de Oro City Mayor Oscar Moreno has welcomed the development saying the proximity of Agus hydroelectric plants is an advantage and the cost of modernizing the plant is mitigated because the foundation of the plant is already there.
On the other hand, Iligan City Mayor Celso Regencia has expressed optimism on the new NSC after it received the letter of intent from a European-led consortium to rebuild the old NSC back to its glory days as the country’s powerhouse in steel production and source of employment opportunities at this time of the global pandemic.
The new 4-B euros integrated steel plant will be put up at the same site of the old NSC in Barangay Roxas, Iligan City.
Technical preparations are now being fast-tracked by a leading European developer of modern, state of the art steel facility.