Hanjin to Invest in Another Shipbuilding Facility

Wednesday, November 28, 2007
Hanjin Heavy Industries and Construction Corp. will invest $2b in a new shipyard complex in Mindanao, its second in the Philippines after putting up a similar facility in Subic last year. President Gloria Macapagal Arroyo met with Hanjin president Jeong Sup Shim at the Palace yesterday where she was informed of the latest investment in Misamis Oriental.

The money committed by Hanjin in Mindanao surpasses its capital inflow in Subic last year, which made Korea the single-biggest source of foreign direct investment in 2006. Presidential Management Staff head Cerge Remonde said the Mindanao shipyard would be two times bigger than the complex of Hanjin in Subic.

The new facility will be constructed at the Phividec Industrial Estate in the towns of Tagoloan and Villanueva. Hanjin’s Subic project is expected to generate at least $3.6 billion in annual sales with a yearly construction capacity of 60 ships worth $60m each. The biggest shipping vessel in the world, a $150-million floating mammoth, is currently being constructed in Subic. The vessel is expected to be bigger than the 260,851-ton Seawise Giant, which also goes by the name Jahre Viking. Source: Philippines News

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Jinhai Heavy Industry Secures Another Invention Patent

Jinhai Heavy Industry of China has received patent rights for its large ship superstructure hoisting method after a state intellectual property review. The patent rights is for twenty years.

Korea Shipbuilder Wins US$400-M Greek Order

Daewoo Shipbuilding & Marine Engineering Co., South Korea’s second-largest shipbuilder, says it has signed a contract to build 4 tankships for Maran Tankers Management,

Tuco Marine Sells First ProZero Fast Workboat

Tuco Marine Group says that it has sold its first boat shortly after the launch of ProZero, the new range of boats for the professional market. The vessel was sold

 
 
Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1471 sec (7 req/sec)