TKC Steel Corp., is planning to raise as much as $1 billion to establish the largest integrated steel manufacturing facility in the country in the 20-hectare complex formerly owned by National Steel Corporation in Iligan City.
From news reports, TKC Steel has appointed Pricewaterhouse Coopers Financial Advisors Inc. as financial adviser to help raise the funds.
Pricewaterhouse will identify prospective strategic partners and investors and prepare a work program, including the acquisition of mining interests related to iron ore.
TKC Steel will use the raw material feedstock for the blast furnace project of subsidiary Treasure Steelworks Corp., which is nearing completion in Iligan City.
The blast furnace would be operational within the next few weeks. The facility is expected to double the company’s billet annual production to 600,000 metric tons from the current level of 300,000 MT.
This is very good news for the Cagayan-Iligan Industrial Corridor…