Allengoal, Cathay, Voest Alpine asked to submit NSC bids

The National Steel Corp. (NSC) Evaluation Committee has asked the three firms that submitted a lease proposal for NSC to submit their respective business and financial plans to the committee before any decision is made as to which of the three proposals will be accepted.

This was announced over the weekend by Trade Undersecretary Adrian Cristobal Jr. following a meeting with all three proponents, namely Allengoal Steel Frabrication & Trading, Cathay Pacific Steel Corporation (CAPASCO) and Voest Alpine.

Cristobal disclosed that all three proposals actually did not comply with the Terms of Reference set by the Evaluation Committee as they did not submit detailed business and financial plans to support their lease proposal.

The Evaluation Committee, Cristobal said, met with all three proponents last Thursday, Nov. 8, to get clarification on the proposals they submitted.

The Committees also emphasized to the three proponents that they must agree to abide by the process or also seek some other options.

All three however, agreed to abide by the process set by the Evaluation Committee, Cristobal said.

Following that meeting, Cristobal said, all three were asked to submit more detailed business and financial plans for NSC.

The proponents have been given until 2 p.m. of Nov. 26 to submit the additional requirements in a sealed envelope to the Evaluation Committee en banc. – Marianne Go