$300 Million Shipbuilding Facility to be Constructed by a Japanese Company in Negros Under Pres. Duterte


The first and only President of the Philippines from Mindanao, President Rodrigo Duterte once promised during the campaign period that he will do everything to convince all the foreign investors to pour out investments in the Philippines, one of the Japanese company heeded his call and will now start the construction of a $300-Million Shipbuilding Facility in Hinobaan, Negros Occidental.


Negros Occidental Governor Alfredo G. Marañon, Jr. said an agreement was signed in October last year by Mr. Marañon and executives of Tsuneishi Heavy Industries, which will set up a ship recycling and reuse facility.

The Province of Negros Occidental under the leadership of Gov. Marañon has already requested the provincial board to approve an ordinance establishing the Southern Negros Industrial Estate (SNIE) on the lots to be expropriated - covering an estimated 285 hectares.

The Provincial government will also make ways for the creation of an office to manage and supervise the industrial estate. They are now expropriating the property of the defunct Insular Lumber Company (ILCO) and several other private lots in Hinobaan.


Provincial Board Member Salvador G. Escalante, chairperson of the committee on finance and appropriations, said the lease contract of the provincial property by ILCO already expired and the company has also failed to settle its taxes.

With the non-existence of ILCO, Board Member Escalante said that the provincial government now owns the property, but expropriation proceedings are still needed to safeguard the investment.

The Japanese company Tsuneishi Heavy Industries is considered as one of the world's largest shipbuilding factory, with one of its operations in Balamban, Cebu, the Tsuneishi Heavy Industries (Cebu) Inc, a joint venture between Japan-based Tsuneishi Group and the Aboitiz Group.

The Cebu facility celebrated its 20th year in operation in the Philippines as it boasts of about 20 vessels per year production centered on 30,000 to 180,000 ton class bulk carriers and considered as one of the top shipyards in the Philippines employing 10,000 people directly or through cooperative companies.

Source: BusinessWorld / SunStar


$300 Million Shipbuilding Facility to be Constructed by a Japanese Company in Negros Under Pres. Duterte $300 Million Shipbuilding Facility to be Constructed by a Japanese Company in Negros Under Pres. Duterte Reviewed by Phil Newsome on 7/14/2017 Rating: 5

No comments:

Powered by Blogger.