European Investor to Pour €4 Billion Euros to Revive National Steel Corporation in Iligan City

Iligan City — A new, state-of-the-art fully integrated steel mill is poised to rise again in this once touted as the industrial city of the south.

Iligan City Mayor Celso Regencia has acknowledged last week the intent of a foreign-funded consortium in the amount of 4B euros for the rebirth of the new National Steel Corporation.

The development came as a big surprise after a series of failed investment proposals — mostly from Chinese groups — were presented before the pandemic to Mayor Regencia for the plan to rebuild the defunct NSC.

Mayor Regencia had expressed optimism the latest investment proposal would push through as it were considering the seriousness of the consortium to proceed amid the growing threat of Covid-19.

“We are bullish with the development to re-construct the mothballed NSC as this would place Iligan City once again in the country’s industrial map”, Regencia said.

The reconstruction phase is set to start late this year by a European supplier of equipment and physical plants to the metal industry.

National Steel Corporation (NSC) was the Asia's Largest Steel Factory before it was sold by former President Fidel V. Ramos to Malaysia and was become so controversial for the alleged Corruption but Ramos denied the accusation. 

Read related article: - Ramos Killed NSC Asia's Biggest Steel Factory in ILigan City to allow China Dominates the Philippines 

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.

Settlement for the buy-out of the property is now in the last ditch of negotiations with the consortium group.

As a driver of economic growth, the new NSC is expected to generate thousands of jobs to the people of Iligan and the rest of the region.

The country has lost its presence in the steel industry sector after the old NSC had experienced a series of downfalls, latest of which was in the hands of Global Steel, a Malaysian manufacturing group.

With the revival of the old NSC into a modern steel making plant, the economy of Iligan City and the rest of Mindanao will definitely shoot up to an unprecented level of progress, Regencia added.

From Ruffy Magbanua of Mindanao Daily News

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Baguio Philippines' Temperature Dropped Down 8 Degree Celsius, Winter-like uptown

Baguio Philippines' Coldest Temperature Dropped Down 8 Degree Celsius 5:00 AM 15th February 2017. Photo: Inquirer 

Cold, cold Valentine’s Day as mercury dips in Baguio

BAGUIO CITY—Residents woke up on Valentine’s Day looking forward to a day of warmth, only to be greeted by the coldest morning yet this year as the mercury dropped to 8 degrees Celsius at 5 a.m. on Tuesday.

School children and office workers were in thick jackets, woolen sweaters and scarves as they streamed out of their homes between 7 a.m. and 8 a.m. due to the bitter cold.
“My children refused to take a bath. It was too cold,” said a mother in San Luis village here. “It was so cold I could not even wash the dishes.”

Tuesday was the coldest day so far in 2017, following the 9.2-degree temperature on Sunday and the 9.4 degrees on Monday, said Aljon Tamondong, Baguio weather observer of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) station here.
Tuesday’s cold weather exceeded the 8.1-degrees-Celsius temperature reading on Jan. 18, 2014, Tamondong said.

The cold spell was not over and the temperature dropped further due to the cold front, he said.
He said the Jan. 15, 2009, temperature, when this mountain resort city experienced 7.5 degrees Celsius, might be broken if the trend continued.

The coldest day on record in Baguio was still Jan. 18, 1961, when the summer capital experienced 6.3-degree weather. People who remembered that day described it as their closest approximation of winter.

The chill thrilled businessmen and flower vendors.

“Yearly, without fail, when news reports dramatize temperature drops to those levels, tourists flock to Baguio to experience that weather. This is always a boost for tourism of Baguio,” said Frederico Alquiros, cochair of the Baguio Flower Festival Foundation Inc., which is staging the Panagbenga grand parades next week.

“Panagbenga being in February, capitalizes on this weather,” he said.
Temperatures in upland towns like Atok and Buguias in Benguet province are usually colder than Baguio.

Atok residents described the weather condition in the town as if they were “freezing,” although there were no signs of moisture frosting up the leaves of vegetables grown in gardens, said Atok Mayor Peter Alos.

Pagasa monitored on Tuesday the lowest temperatures in the country since the northeast monsoon season—locally known as “amihan”—began in November.

The Pagasa said that aside from Baguio, the lowest temperatures were observed from 4 to 6 a.m. on Tuesday in the following areas: Tanay, Rizal, at 14.3 degrees; Malaybalay, Bukidnon, at 15.8 degrees; Itbayat, Batanes, at 16.5 degrees, and Basco, Batanes, Tuguegarao, Cagayan, and Ambolong, Batangas at 17 degrees.

Metro Manila also experienced one of its coldest days at 19.2 degrees, although a 19-degree temperature was already monitored in January.

“This is the lowest recorded temperatures since the northeast monsoon started in November. We’re seeing a surge in the monsoon; that’s also why we have gale warnings hoisted over some parts of the country,” Pagasa assistant weather services chief Renito Paciente told the Inquirer.—REPORTS FROM GOBLETH MOULIC, KIMBERLIE QUITASOL, VINCENT CABREZA AND JAYMEE T. GAMIL

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