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National Steel Corp. was the biggest steel mill in Asia, now we import substandard steel from China ~Share


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During the administration of Pres. Fidel V. Ramos, under the government's privatization policy, the National Steel Corp. was turned over to the Malaysian investors in 1995.

In 2004, Indian investors took over and the steel mill shutdown in 2009.

According to the statement of Rep. Belmonte, the Philippines made a mistake in awarding the NSC to the Indians. The NSC was acquired by Pramod Mittal's Global Steel Holdings Ltd. from creditor banks in 2004 for a total price of P13.25 billion including an upfront cash of P1 billion while the remainder was to be paid over an 8-year-period.

The privatization of the National Steel Corporation under the Ramos administration was overseen by the former Department of Trade and Industry (DTI) Secretary Mar Roxas.




The National Steel Corp. during its glory days became the first government corporation to obtain an ISO-certification, it is complete with staff houses and other real estate assets inside its sprawling premises.

NSC was also the first government corporation to be declared Employer of the Year and also the first government corporation to be bestowed AIM's Award for Managerial Excellence in people development.

 During its peak, NSC supplied 62 percent of the Philippine total flat steel demand (34 percent for hot-rolled products; 75 percent for cold-rolled products; 69 percent for tinplate products). It used to directly export an average of 4,000 MT per month to China

NSC generated R12 billion in annual revenues and earned a net income of P500 million every year, after paying duties and taxes of R1 billion yearly to the government.



13 comments:

  1. Sana mag-operate na ulit ng magmura ang bakal that we are using for our Condos and house and lot. Most of my foreign clients are telling me why condos here are very expensive compare to other countries. Kasi imported ang mga materials natin. :(

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  2. Sana mag-operate na ulit ng magmura ang bakal that we are using for our Condos and house and lot. Most of my foreign clients are telling me why condos here are very expensive compare to other countries. Kasi imported ang mga materials natin. :(

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  3. tang ina kang gurang ka ! wala ka ng ginawang matino hayoop!

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  4. wala kang magandang naitulong sa pilipinas ! kung makapag salita "ANG PERFECT" dapat ka bang galangin? sa tingin mo tanda? ask every filipino kung dapat ka bang galangin ? manahimik k nalang dapat! ke tanda tanda mo na ang lakas mo parin mamolitika! -ika nga ni mareng winnie :P

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  5. They said old dogs cannot learn new tricks that is why FVR cannot get out of his old deplorable state of being a man devoid of accomplishments worthy to emulate for others to follow because his record before as our past president did not have anything worthy to be proud of. Selling Fort Bonifacio and NSC are two of his past big deals that up to now people are wondering how come he was able to do it if only what was in his mind is to do something for the good of our country and people. And yet, in his last effort to do something bad for our country and people, here he is trying to steal the show from our beloved President Digong saying that for DU30's first 100 days in office is characterized by total embarrassment and letdown.

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  6. Question, why can't we start all over again what's holding us up, let's move on Ramos we all know is a smuck!!

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  7. It was so sad... i took my onthejob training there in NSC when i was in senior college

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  8. As far as i know it did not survive the competition of a globalized market

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  9. Ano na ba ang nangyari sa paghakot at pagbenta sa China ng black sand diyan sa norte noong panahon ni Aquino? Tuloy pa rin ba yun?

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  10. ibinenta lahat.... pati yong lupa na ngayon ay bonifacio global city. Paano na yong gintong nakuha ninyo sa Samal Island?

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  11. Can we re open that factory and remodel it for today's standards. It doesn't make sense why we should import steel when we have a rich source of raw materials here and exporting it all to China.

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  12. An embarrassment like the past few presidents !!!

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