More Than $1 Billion Investment Awaits National Steel Corporation In Iligan City

Around $1.8 billion of investment awaits National Steel Corporation (NSC) – this was divulged by Vice Mayor Vera Cruz of Iligan City during the flag raising ceremony held last Monday, March 13, 2017.

Accordingly, the information was passed when the Vice Mayor visited President Rodrigo Duterte in Davao two weeks ago.

President Duterte told a businessman of a multi-billion company had expressed interest in the said project.

The project will be the biggest investment to ever flow in Northern Mindanao region.

The investment is even bigger than that of the biggest mall in the country, SM Seaside Cebu.

It can be recalled that the closure of National Steel Corporation ignited unemployment rate in Iligan City to rise drastically in the past few decades after it was sold during Ramos administration to under-capitalized Malaysian firm which turned its back and left the government holding the debt.

Watch Vice Mayor Speech below during the city’s flag ceremony last March 13:

Source: LGU Iligan City FB Page