Marcos Pushes for Revival of Steel Industry in Northern Mindanao to Spur Industrial Growth

CAGAYAN DE ORO — President Ferdinand “Bongbong” Marcos Jr. is throwing his full support behind efforts to revive the steel mill industry in Northern Mindanao, emphasizing its vital role in advancing the Philippines’ industrialization goals.

During the Regional Development Council (RDC-X) meeting held Tuesday in Cagayan de Oro City, Marcos confirmed that both local and international stakeholders are in talks to revive the former National Steel Corporation.

“There are ongoing discussions between local and foreign groups aimed at forming a partnership to bring back the steel mill,” the President said in a statement on Wednesday. “Producing our own steel is critical to any kind of industrialization we’re planning.”

To address the region’s power needs for steel production, Marcos said he will ask the Department of Energy (DOE) to assess the capability of the Agus-Pulangi Hydropower Complex (APHC) to meet the estimated demand of 1,500 megawatts. Currently, the hydropower facility has a total installed capacity of around 1,000 MW.

Marcos emphasized the importance of a technical evaluation to determine if Northern Mindanao can meet the energy demands of a full-scale steel mill operation.

The RDC-X members are advocating for the revival of the 500-hectare site previously occupied by the National Steel Corp., envisioning its redevelopment as a key step toward reestablishing Cagayan de Oro as the “industrial city of the South” and generating significant employment in the region.