National Steel Corporation (NSC) is a steel processing plant with a production capacity of 1,300,000 metric tons of processed steel per annum. It was organized on 22 February 1974 from the assets of Iligan Integrated Steel Mills (IISMI) when the later was foreclosed by DBP. NSC occupies 450 hectares in Iligan City. The area of the manufacturing plant and facilities consists of 250 hectares and the
rest are for housing, recreational and vacant lands. Inside the manufacturing plants are buildings, machineries, equipment, support facilities, etc., and its main products and market share in the Philippine market were hot rolled coils (29%), cold rolled coils (72%) and tinplates (53%). It was the largest steel plant in Southeast Asia and one of the top five (5) corporations from the 1970’s up to the 1994 along with PLDT, Meralco, etc. NSC employed 4,000 regular workers and 2,000 contractual workers for a total of 6,000 workers. In 1990 the monthly payroll was ₱80,000,000.00, at present this could be about ₱150,000,000.00 a month going into the economy of Iligan. This is not to mention the multiplier effect equivalent to not less than 10 times in terms of support jobs and facilities – transport, food, education, entertainment, residential, etc. In 1963, the Jacinto family organized Iligan Integrated Steel Mills Inc. (IISMI) upon the recommendation of the government for the purpose of integrating the steel industry in the Philippines. For this purpose it was granted a US$62.3 Million loan by the Export-Import Bank and ₱34 Million loan from the government. Due to the mismanagement and diversion of funds of the Jacintos IISMI defaulted on its loans and was foreclosed by DBP. On 22 February 1974 from the assets of Iligan Integrated Steel Mills (IISMI) National Steel Corporation (NSC) was organized to run the steel proceeding facilities. It continued producing hot rolled and cold rolled coils, rebars, wire rods, etc. It even began, under President Marcos, the integration of the steel industry. In 1994 it was privatized by its sale to Wing Tiek Holdings Bhd Malaysia which later on sold NSC to Hottick Investment Ltd. Of Malaysia for ₱12.2 Billion in an agreement dated December 1996. Due to mismanagement of Hottick NSC again went bankrupt and filed for debt relief with SEC under SEC Case No. 12-99-6496. In 2000 the Securities and Exchange Commission declared that NSC will undergo liquidation with Atty. Danilo Concepcion as Liquidator. In 2004 in a series of transactions NSC was sold to Global Philippines Inc. for ₱12.5 Billion. Subsequently Global with Danilo Concepcion mismanaged the plant and it again went bankrupt such that by June 10, 2010 electricity was shut off for its failure to pay their bills. In the meantime looting, pillage and plunder of the plant was perpetrated to the tune of billions of pesos thereby rendering the plant inoperable. Since the last quarter of 1999 NSC failed to pay its real property taxes to the City of Iligan such that by October 2016 it amounted to ₱4,610,838,700.24. For the continued refusal of NSC thru Atty. Danilo I. Concepcion to pay its real property taxes, on October 19, 2016, the City of Iligan sold all NSC properties in Iligan City at a tax delinquency sale. There was no bidder at the tax auction sale and so NSC was forfeited in favor of the City of Iligan. No redemption payment was made on the tax due by NSC or any other person or entity with legal interest within the one (1) year period from the date of the sale. And so by October 19, 2017 the City of Iligan became the owner of all NSC Iligan Properties free from all liens and encumbrances.
