National Steel Corporation sold by Ramos to allow China's steel dominate the Philippines

Former President Fidel V. Ramos sold Asia’s Biggest Steel Factory – National Steel Corporation (NSC) to Malaysian Investors located in Iligan City as part of a major privatization program under his term and now superseded by China’s Steel Asia in Plaridel, Bulacan to be the most modern in the world.
During its glory days, National Steel Corporation became the first government-owned corporation to have obtained an ISO Certification with suitable staff houses and state-of-the-art assets within its working premises.
Ironically, it used to directly export an average of 4,000 Metric Tons per month to China. NSC was eventually acquired for Php 14.25 Billion initially and the privatization program was overseen by former DTI Secretary, Mar Roxas.
The Plaridel Plant boasts a production capacity of about 1.2 million metric tons, twice as much as its recently established Davao Plant with 500,000 metric tons capacity with the company continually investing up to Php 6 Billion to put up the biggest steel plant in the country.
“It will be using the latest available technology that allows production efficiency and environmental protection at the same time,” Steel Asia said.

Moreover, Steel Asia Vice President, Roberto Cola said that the Plaridel Plant, along with others situated in Cagayan De Oro, Cebu, and Batangas will fully comply with existing Environmental Laws with continued efforts to improve technical and environmental aspects that could benefit the community.
This ‘project’ was supported by the local youth including more than 5,000 members of Plaridel’s Tricycle federation, majority of whom have already taken advantage of the FREE skills upgrade training program conducted by the Company as part of their Corporate Social Responsibility.
“Being open and transparent with the community was key to the support we are getting for our project. We even brought some members of the Plaridel Community to our newly opened Davao Plant for them to see and appreciate that we are real partners in progress and we care for the environment as we go about our business”. Cola said.

No comments

Powered by Blogger.