[ Malaya.com.ph ] February 11, 2009
By IRMA ISIP
Tsuneishi Heavy Industries is investing P12 billion to expand its shipyard in Balamban, Cebu.
The expansion will allow the shipyard to build cargo vessels of up to 250,000 dead weight tons like bulk carriers, container ships, oil tankers, reefer ships and pure car and truck carriers.
Tsuneishi Heavy Industries Cebu Inc., has been expanding operations since 1998.
Vessels built by Tsuneishi Cebu from the West Cebu Industrial Park special economic zone, are exported to Japan and Europe.
The Japanese –Aboitiz joint venture firm would hire additional 3,000 workers and expand its area by another 90 hectares.
The facility does hull interior furnishing, painting, hatch covers, piping, outfitting and machinery factories.
As of January, Tsuneishi Heavy had 5,800 workers.
Tsuneishi Cebu set up operations in 1994 and initially registered its projects with the Board of Investments (BOI) but transferred its subsequent registration to the Philippine Economic Zone Authority (PEZA) in 1998.
The company is a joint venture between Tsuneishi Group (80 percent) and Aboitiz & Company (20 percent) and represents what is by far the biggest investment in the Philippines by the Tsuneishi Group.
Aside from shipbuilding, the company also engages in ship repair for both foreign and Philippine clients. It also fabricates and exports ship blocks to Japan.
The company also fabricates and installs heavy industrial plants and facilities for the region.
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