The Philippines is planning to invest in and develop a new steelmaking plant on the 450-hectare former site of the National Steel Corporation in Iligan, which has been idle since 2009. 

The Philippine Economic Zone Authority (PEZA) announced on March 24 that it is leading efforts to transform the site into an integrated steelmaking hub. The project aims to establish a high-efficiency eco-industrial zone to attract investors and stimulate regional economic growth.

Both National Development Co. and Maharlika Investment Corp. are supporting the revival plan. 

PEZA noted that redeveloping this idle property will help return Iligan to its status as a strategic industrial center and strengthen its position within the country’s export-oriented manufacturing industry.