Japanese shipbuilder Tsuneishi Shipbuilding Co is all set to spend $100m on yard in the Philippines, reports Manila Standard.
Tsuneishi will build a ship recycling facility that will use the latest internationally accredited green technology. The investment is expected to generate some 6,000 jobs.
Philippines Trade Secretary Ramon Lopez said the steel-recycling project would not only meet the country’s requirements for inter-island vessels for transport and logistics, but would also cover the steel requirements of major infrastructure work.
He said that due to the very high quality of steel components of ocean-going vessels, the steel-recycling project will not only meet the country’s requirements for inter-island vessels for transport and logistics but also cover the steel requirements of major infrastructure work.
This prospective project of Tsuneishi is on top of other two projects — a skid barge and ship re-use centre in Negros Occidental and a biomass fuel project in Mindanao — committed by the company during October last year.
Tsuneishi Shipbuilding Co., Ltd. engages in developing, building, remodelling, and repairing ships worldwide. Its products include bulk carriers, tankers, Ro-Ro container carriers, and car and wood chip carriers. Tsuneishi Shipbuilding Co., Ltd. was formerly known as Shiohama Shipbuilding.