A foreign-funded consortium intends to pour 4 billion euros to revive the National Steel Corporation (NSC) in Iligan City. This was disclosed by City Mayor Celso Regencia who had expressed optimism on the latest investment proposal would after a series of failed investment proposals to rebuild the mothballed NSC.

Accordingly, if the plan pushes thru, the reconstruction phase is set to start late this year. It can be recalled that the 400-hectare property of the old NSC is now owned by the city government of Iligan after undergoing a series of legal battles with bank liquidators.

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