Bali Steel expects to invest some 100-thousand US dollars in the removal of junk cars and abandoned scrap metal in the Northern Mariana islands.
The Saipan Tribune newspaper reports the investment is part of a memorandum of understanding signed between the Fitial administration and the private company, which is responsible for a similar metal recovery program in Guam.
David Louie Belle, Bali Steel's vice president for strategic planning and public policy, said the program is costing Guam approximately US$500,000 annually over a five-year period.
But it will be almost free for the Commonwealth, which will only be required to provide manpower support.
According to Mr Belle, Bali Steel has already moved some 400 tons of scrap metal out of Saipan since September 2006.
The company is set to begin work on junk cars in eight weeks, and has set a two-year timeframe for the entire program.