In an announcement by Vice Mayor Vera Cruz last March 13, 2017, during a flag ceremony, around $1.8 billion investment awaits National Steel Corporation.
According to the Vice Mayor, the information came from President Rodrigo Duterte after his visit in Davao. Duterte said that a businessman of a multi-billion company is interested to invest in the said project.
The National Steel Corporation’s closure in resulted in high rates of unemployment and has haunted the city for the past few years.
It can be recalled that the National Steel Corporation area was eyed to be the new location for the South Bound terminal, however, should the investment push through, the construction of the new terminal would be postponed.
Watch Vice Mayor Speech below during the city’s flag ceremony last March 13.