Philippine president steps in to halt HHIC spat
LOCAL administrators in the southern Philippine town of Misamis Oriental, where Hanjin Heavy Industries and Construction intends to build a large shipyard, have been ordered to stop hindering the project by the country’s president.
Work on the infrastructure and a training centre attached to what will eventually be a $2bn shipyard has been repeatedly hindered by local administrators unable to cool local demands for relocation expenses and guaranteed jobs at the HHIC facility.
However, following a meeting between Philippine President Gloria Macapagal Arroyo and local mayors Paulino Y Emano of Tagoloan and Juliette T Uy of Villanueva, the latter said Wednesday that the stoppage order that was issued at the beginning of the week had been lifted.
The Philippine government has from the beginning had a lot riding on Hanjin’s investment in Misamis Oriental, which is located on Mindanao island. Including an earlier $1.7bn shipyard operation in Subic Bay north of the capital Manila, HHIC’s contribution is the largest single foreign direct investment the country has received in years.
HHIC has hinted it would review the investment because of the level of grassroots opposition to its ventures both in Mindanao and Subic Bay.
By Mike Grinter in Hong Kong LLOYDS
Opening ceremony: HHIC's shipyard at Subic Bay opened last year.
Work on the infrastructure and a training centre attached to what will eventually be a $2bn shipyard has been repeatedly hindered by local administrators unable to cool local demands for relocation expenses and guaranteed jobs at the HHIC facility.
However, following a meeting between Philippine President Gloria Macapagal Arroyo and local mayors Paulino Y Emano of Tagoloan and Juliette T Uy of Villanueva, the latter said Wednesday that the stoppage order that was issued at the beginning of the week had been lifted.
The Philippine government has from the beginning had a lot riding on Hanjin’s investment in Misamis Oriental, which is located on Mindanao island. Including an earlier $1.7bn shipyard operation in Subic Bay north of the capital Manila, HHIC’s contribution is the largest single foreign direct investment the country has received in years.
HHIC has hinted it would review the investment because of the level of grassroots opposition to its ventures both in Mindanao and Subic Bay.
By Mike Grinter in Hong Kong LLOYDS
Opening ceremony: HHIC's shipyard at Subic Bay opened last year.
Labels: hanjin, hhic, misamis oriental, shipyard
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