NSC not likely to reopen this year

Trade and Industry Secretary Manuel Roxas II disclosed yesterday that the National Steel Corp. (NSC) may not be able to open and operate this year even if the NSC evaluation committee manages to choose an operator for the mothballed plant in Iligan.

"Retooling the mothballed plant and even ordering the necessary raw materials would take some time and could not be done within the three months left in the year," Roxas said.

The DTI chief also said the NSC evaluation committee has not yet started the process of opening and evaluating the lone bid coming from Voest Alpine to operate the plant. "The evaluation committee is still accepting other bids," Roxas said.

The evaluation committee is proceeding very cautiously on the bidding process since some doubts are being raised about the process and the effort to resolve the dispute between the Malaysian owners and the creditor banks.

Roxas expressed confidence that a solution could still be reached that will be "litigation-free."

Roxas had stepped in and offered to help resolve the dispute between the Malaysian owners and creditor banks who would have otherwise sought relief through the courts.