Shipbuilding Credited for Town's Growth

Friday, October 14, 2005
Tsuneishi Heavy Industries (Cebu) Inc. (THICI) has contributed a lot to the development of Balamban, according to a report in the Sun Star Cebu. THICI is a joint venture of Japan’s Tsuneishi Group and Cebu’s Aboitiz Group of companies. It started its operations on December 1994 with the construction of its facility in Buanoy, Balamban, Cebu.

Today, THICI, including its subcontractors, employs 3,620 workers, more than 60 percent of which are from Balamban. The rest mostly come from the neighboring Toledo City and Asturias. THICI has also sent 426 workers to Japan for training. Each one of them earns about P70,000 a month.

THICI is the only bulk carrier vessel builder in the country. It caters to international clients. It aims to be among the world’s top three shipbuilding company by the year 2010. Its first product was Sea Amelita, named after the wife of former President Fidel V. Ramos. It was launched in Jan. 28, 1997. In January next year, THICI will start fabricating hulls for car ships.

(Source: Sun Star Cebu)

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