Hanjin’s project blocked
The proposed P20-billion investment of Korean shipbuilder Hanjin Heavy Industries Corp. in northern Mindanao has hit a snag after two host municipalities withheld their support to the project.
Hanjin is looking at a 300-hectare area in the 3,000-hectare Phividec Industrial Estate in Misamis Oriental as potential site for its shipbuilding expansion amid stronger global demand. The Phividec estate straddles the towns of Villanueva and Tagoloan.
Sources said the two municipal governments declined to endorse the project pending a commitment from Hanjin to hire local workers, among other things.
The sources said Philippine Economic Zone Authority director general Lilia de Lima was set to visit the province within the month to talk to officials of the local government units to convince them on Hanjin’s project. The sources said Peza, which has been at the forefront of the negotiations with Hanjin for the new investment, was “trying to fix things” with local authorities.
The sources added that Peza was also pushing for the declaration of Phividec as an economic zone to ensure that Hanjin received the same fiscal incentives enjoyed by locators in Peza-administered ecozones.
The government said it expected to finalize Hanjin’s investments by next month after De Lima’s visit to Misamis Oriental.
Sources said they expected investments to exceed $1 billion because Hanjin’s suppliers were also moving to Phividec.
Hanjin has strongly indicated to locate and register as new investment with Peza once plans are finalized in several meetings with De Lima.
The move comes on the heels of the company’s recent $1-billion investment in a 349-hectare area in the Subic Bay Freeport, where it is now constructing a shipbuilding facility.
Hanjin is scheduled to deliver 33 medium-sized container vessels worth almost $3 billion in the next two years and 82 large-sized ones from 2009 to 2011 from the Philippines.
By Elaine Ruzul S. Ramos - Manila Standard Today
Hanjin is looking at a 300-hectare area in the 3,000-hectare Phividec Industrial Estate in Misamis Oriental as potential site for its shipbuilding expansion amid stronger global demand. The Phividec estate straddles the towns of Villanueva and Tagoloan.
Sources said the two municipal governments declined to endorse the project pending a commitment from Hanjin to hire local workers, among other things.
The sources said Philippine Economic Zone Authority director general Lilia de Lima was set to visit the province within the month to talk to officials of the local government units to convince them on Hanjin’s project. The sources said Peza, which has been at the forefront of the negotiations with Hanjin for the new investment, was “trying to fix things” with local authorities.
The sources added that Peza was also pushing for the declaration of Phividec as an economic zone to ensure that Hanjin received the same fiscal incentives enjoyed by locators in Peza-administered ecozones.
The government said it expected to finalize Hanjin’s investments by next month after De Lima’s visit to Misamis Oriental.
Sources said they expected investments to exceed $1 billion because Hanjin’s suppliers were also moving to Phividec.
Hanjin has strongly indicated to locate and register as new investment with Peza once plans are finalized in several meetings with De Lima.
The move comes on the heels of the company’s recent $1-billion investment in a 349-hectare area in the Subic Bay Freeport, where it is now constructing a shipbuilding facility.
Hanjin is scheduled to deliver 33 medium-sized container vessels worth almost $3 billion in the next two years and 82 large-sized ones from 2009 to 2011 from the Philippines.
By Elaine Ruzul S. Ramos - Manila Standard Today
Labels: hanjin, mindanao, shipbuilding, subic
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