Hanjin Chair to GMA: We will complete P2-B shipyard in Phividec
Mike Banos
June 02, 2009
The Chairman of Hanjin Heavy Industries has assured President Gloria Arroyo they are pushing through with their P2-billion shipyard project in Tagoloan, Misamis Oriental.
The president and Hanjin chair Cho Nam Ho had a luncheon meeting at the Shilla Hotel in Jeju in the course of her recent four-day visit to South Korea. Arroyo is in Jeju to attend the Association of Southeast Asian Nation-Republic of Korea Commemorative Summit.
Cho told Arroyo Hanjin already has 16,000 employees in its Subic shipyard and is now training another 20,000 for the expanded operations of its Subic and Tagoloan shipyard.
"We are very pleased and we welcome this historic move of HHIC," Misamis Oriental Gov. Oscar S. Moreno said upon hearing of the new development. "It confirms and reinforces our strategic advantages in terms of location, people, resources and other investment considerations."
Hanjin signed a contract January last year with the Phividec Industrial Authority (PIA) in Misamis Oriental to establish a $2-billion shipbuilding complex, a much bigger investment than its $1-billion billion shipyard complex at the Subic Freeport Zone.
In return, the national government declared the 441.8-hectare Hanjin project site an economic zone. The area forms part of 3,000- hectare Philvidec Industrial Estate.
Moreno said the Tagoloan shipyard would fabricate various ship parts and hire up to 40,000 Filipino workers. It would be Hanjin´s biggest shipyard facility outside South Korea and one of the biggest in the world.
The shipyard would extend from Tagoloan to Villanueva. A training center alone would occupy eight hectares while the planned shipyard will cover a 70-hectare property in Tagoloan contiguous with a 400-hectare property in Villanueva.
Alleged pressure from local officials forced the Korean company to pack up and mothball the project late last year but administration officials moved quickly to save the project.
Press Secretary Cerge Remonde later assured that Hanjin would not pull out its $2 billion shipyard project and that the company would remain in the Philippines. He added, however, that there may be some delays in the full implementation of some of its major projects due to the deepening global economic meltdown.
"Hanjin is still very much alive and will continue its shipyard project here. Due to the current economic slump, however, it has suffered some setbacks as ship orders have been withdrawn," Remonde said.
"We hope to soonest see recovery signs from the global economic crisis,as these will certainly remove all business reservations," Moreno added.
30 -
The president and Hanjin chair Cho Nam Ho had a luncheon meeting at the Shilla Hotel in Jeju in the course of her recent four-day visit to South Korea. Arroyo is in Jeju to attend the Association of Southeast Asian Nation-Republic of Korea Commemorative Summit.
Cho told Arroyo Hanjin already has 16,000 employees in its Subic shipyard and is now training another 20,000 for the expanded operations of its Subic and Tagoloan shipyard.
"We are very pleased and we welcome this historic move of HHIC," Misamis Oriental Gov. Oscar S. Moreno said upon hearing of the new development. "It confirms and reinforces our strategic advantages in terms of location, people, resources and other investment considerations."
Hanjin signed a contract January last year with the Phividec Industrial Authority (PIA) in Misamis Oriental to establish a $2-billion shipbuilding complex, a much bigger investment than its $1-billion billion shipyard complex at the Subic Freeport Zone.
In return, the national government declared the 441.8-hectare Hanjin project site an economic zone. The area forms part of 3,000- hectare Philvidec Industrial Estate.
Moreno said the Tagoloan shipyard would fabricate various ship parts and hire up to 40,000 Filipino workers. It would be Hanjin´s biggest shipyard facility outside South Korea and one of the biggest in the world.
The shipyard would extend from Tagoloan to Villanueva. A training center alone would occupy eight hectares while the planned shipyard will cover a 70-hectare property in Tagoloan contiguous with a 400-hectare property in Villanueva.
Alleged pressure from local officials forced the Korean company to pack up and mothball the project late last year but administration officials moved quickly to save the project.
Press Secretary Cerge Remonde later assured that Hanjin would not pull out its $2 billion shipyard project and that the company would remain in the Philippines. He added, however, that there may be some delays in the full implementation of some of its major projects due to the deepening global economic meltdown.
"Hanjin is still very much alive and will continue its shipyard project here. Due to the current economic slump, however, it has suffered some setbacks as ship orders have been withdrawn," Remonde said.
"We hope to soonest see recovery signs from the global economic crisis,as these will certainly remove all business reservations," Moreno added.
30 -
Print
Email
