Department of Trade and Industry (DTI) Secretary Ramon Lopez said Thursday Japanese shipbuilding company Tsuneishi is eyeing a PHP5-billion ship recycling facility that will use the latest internationally accredited green technology.
The investment is expected to generate some 12,000 jobs.
“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,” he said.
This prospective project of Tsuneishi is on top of the PHP10.2 billion projects — a PHP5.2-billion skid barge and ship re-use center in Negros Occidental and a PHP5-billion biomass fuel project in Mindanao — committed by the company during the state visit of President Rodrigo Duterte to Japan in October last year.
The skid barge and ship re-use facility will create some 6,000 direct and indirect jobs while the biomass fuel project is projected to add 20,000 jobs.
“We shall continue to cooperate with Tsuneishi in the setting up and operations of the three projects,” said Lopez.