Talks on steel mill revival in Northern Mindanao under way
PRESIDENT Ferdinand R. Marcos, Jr. said that foreign and local groups have shown interest in reviving a 500-hectare steel mill in Northern Mindanao.
“There are already discussions among certain groups, both foreign and local, that would ensure a partnership to revive the steel mill,” Mr. Marcos said in a statement on Wednesday.
Mr. Marcos on Tuesday attended the Regional Development Council of Northern Mindanao meeting in Cagayan de Oro City, which tackled plans of local and foreign groups to form ties to revive the National Steel Corp.
The steel mill located in Iligan, Lanao del Norte was previously operated by the National Steel Corp., which went bankrupt in 2000.
He added that the revival of the defunct steel mill may be “critical for any industrialization that we are planning.”
Mr. Marcos added that he will also order the Department of Energy to evaluate the capability of the 1,000-megawatt (MW) Agus-Pulangi Hydropower Complex to supply power for the steel mill.
“We need to do a technical analysis to determine if we can meet the 1,500 MW power production threshold,” he added. — Adrian H. Halili
