PPA: Foreign firms interested in Luzon shipbuilding facility

MANILA, Philippines — A number of foreign firms are keen on developing a government-initiated shipbuilding facility in Luzon intended to bolster efforts in modernizing the country’s maritime fleet.

Philippine Ports Authority (PPA) general manager Jay Santiago told The STAR that the state-run corporation has received interest from a number of big foreign firms following the announcement last August of a plan to build a shipbuilding facility on a 10-hectare property in Luzon.

“There have been a number who indicated interest. There are those interested to partner and then there are also those who want to build it on their own,” Santiago said.

Santiago said the project’s feasibility is now being evaluated internally by the PPA, with the goal of commencing with its development by next year.

“We outsourced the feasibility study so we are now checking internally if the assumptions are correct then the moment we complete the evaluation and validation that’s the time I would have the PPA board and Secretary Arthur Tugade approve it,” he said.

“We will start to initiate the implementation by next year. That will be one of the plans and programs we have for next year,” he said.

Santiago earlier said the project could require an initial investment of about P300 million.