NSC starts assets’ inventory; players must be ready: execs

By Nora Sorino
Iligan City Bureau Chief .

inventory of assets of the shuttered National Steel Corporation (NSC) in Iligan City has begun in November last year and would soon be completed by the end of this month, officials said Tuesday.

NSC officials even said interested and prospective investors must now be ready.

NSC member of the technical working group Engr. Norberto Oller, said that such action is among the important things to do as there are around ten steel companies from several parts of the world and they must be ready.

He said that most of the assets and equipment there are still intact even if there having been reports of some of them being stolen and or vandalized.

“Only the electrical parts and some furniture and even tiles and walls of the building structures there are stolen or destroyed,” Oller said.

Oller said electrical aspect is outdated and the buildings and structures can be rebuilt with the electrical system updated too.

The mechanical aspect is still good, Oller said. They are evaluating everything, every equipment in the cold mill, the hot mill, the billet shop and even the wharf.

Among the advantages of said plant is the wharf as the waters there are inherently deep.

There is also the big supply of limestone around which could last up to 400 years, he added.

Atty. Voltaire Rovira, also a member of said technical group said that there are around ten steel groups all over the world expressing interest on it and they must be ready.

The city, he said, has come a long way, “from a mere bystander” to a leading player.

Among those that signified interest and in fact visited the plant are Steel Asia and Hansteel. The latter to note, is Handar Iron and Steel Group is astate-owned iron and steel enterprise engaged in the manufacture, processing and sale of black metal, billet steel roll, and sintering in China.

“Due diligence” is needed as regards these prospective investors even as they, in this city’s side promoting said plant will be subjected to with “due diligence” by the investors.

Hence, they must be ready. “Even if there are only maybe 2 or 3 that are possible investors, that ‘s good,” Rovira said.

He said they realize that this involves billions, P18 billion the most or even P10 billion for the city and that’s good enough.

So everything is being done to promote it. To note, the city has fenced the grounds last year, involving over 200 hectares. But that’s not all, it was learned as there is still that over 400 hectares across it that is still part of NSC.

Rovira said that there are parties claiming ownership too of NSC but if they really own it, why are they not paying realty taxes?

The city claims over P5 billion in realty taxes from the said company which to this day remain unpaid, Rovira said.