Japanese Company Will Start Constructing $300-Million Shipbuilding Facility in Hinobaan, Negros Occidental


A world-renowned Japanese Company will start constructing a $300-million shipbuilding facility in Hinobaan, Negros Occidental in 2018 in what will become the Southern Negros Industrial Estate (SNIE), as confirmed by Negros Occidental Governor Alfredo G. Marañon.


Based upon an agreement signed on October last year by Gov. Marañon and executives of Tsuneishi Heavy Industries, which will set up a ship recycling and reuse facility, the governor has already requested the provincial board to approve an ordinance establishing the SNIE on the lots to be expropriated-covering an estimated 285 hectares-and the creation of an office to manage and supervise the industrial estate.



The Negros Occidental provincial government under the leadership of Gov. Marañon is expropriating the property of the defunct Insular Lumber Company (ILCO) and several other private lots in Hinobaan.

Provincial 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 also failed to settle its taxes. With ILCO no longer existing, Mr. Escalante said the provincial government now owns the property, but expropriation proceedings are still needed to safeguard the investment.

The Negros Occidental Provincial Board Committee on Laws will hold a hearing to discuss the proposed creation of the Southern Negros Industrial Estate (SNIE).

Source: BusinessWorld

Japanese Company Will Start Constructing $300-Million Shipbuilding Facility in Hinobaan, Negros Occidental Japanese Company Will Start Constructing $300-Million Shipbuilding Facility in Hinobaan, Negros Occidental Reviewed by Phil Newsome on 7/20/2018 Rating: 5

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