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Iligan city focuses on Australian investor for NSC, says Pardillo

Iligan City Bureau Chief .

Iligan city councilor Nilo Pardillo on Friday said the city government is now focusing on the Australian investor who vowed in investing huge amount to the operations if the still closed National Steel Corporation would be reopened.

Until now, Pardillo failed to identify the said Australian investor.

However, he said that he was present during meeting of the said investor at Cebu City of which liquidator Atty. Danilo Concepcion was also around.

Pardillo added that BDO, which is one of the consortium of banks that had lent to NSC when it was still operating, had a 3% stake on the amount and had previously written off as bad debts, but recently had emerged as one of the banks interested to get back its stake.

The councilor even reiterated his statement earlier saying lawyer Voltaire Rovira, the head of the NSC Working Group that Concepcion was amenable to the amount of P11 billion for the banks should the investor finally decide to invest on it.

The city stands to receive around P20 Billion on it, said Pardillo.  Should NSC reopens, this will translate to around 4,000 to 5000 jobs for the people here as the city will see to it that many of the employees, specially the non-skilled workers would come from the area, and those nearby.

“The city will see to it that the head office of the steel manufacturing plant will be located in the city and not in Makati which had been the case in the past.  Thus, taxes went to the city of Makati instead of this city,” Pardillo added.

In the past, Pardillo said, there were 23 industrial plants here and all of them had their head office in Makati.

“This time around, should there be new investors here, the city will really insist that their head offices will be here,” he said.

It was learned that there were several prospective investors who wanted to see the area at the NSC but were not able to do so as the guards there would not let them.

The councilor said that people interested in inspecting the area should follow protocol like permission from the city and not just from the guards.

To recall, after the closure of the plant, there were reports of theft and looting of some materials inside the plant.



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