DND to monitor Subic shipyard financial rehab

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“We defer to the economic team in this area. But we [are] interested to know who are coming to invest,” National Defense Secretary Delfin Lorenzana said as Korean shipbuilder Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) initiates court-assisted voluntary financial rehabilitation with Chinese investors eyeing to step in.

Secretary Lorenzana noted that Subic Bay is “a major docking and anchorage of our big ships. We will monitor who are interested to invest.”

Trade Secretary Ramon Lopez  expressed that the priority is to look for new operator.

“Our first objective is to replace with another shipbuilder that will take over,” Lopez said.

Sources: http://www.pna.gov.ph/articles/1058808; https://www.philstar.com/business/2019/01/12/1884494/chinese-companies-keen-investing-hanjin-after-412-m-default