North American firm may soon take over ops of Hanjin shipyard at Subic

ANORTH American company may soon take over the operation of a sprawling shipyard in Zambales previously operated by Hanjin Heavy Industries and Construction Co.philippines (HHICC-PHIL) Inc.

In an online news briefing on Monday, Subic Bay Metropolitan Authority (SBMA) Chief Executive Officer and Administrator Wilma Eisma disclosed the agreement for the transfer of the management of the shipyard is now “99.99 percent” complete.

However, she declined to identify the said “white knight” firm until the said accord sealing the transaction is complete.

“Hopefully, before the end of the year, we will be able to announce the reopening of the Hanjin Shipyard,” Eisma said.

Eisma welcomed the development, saying it will translate to hundreds of employment opportunities in Zambales.

In 2019, the Businessmirror reported the looming closure of the shipyard due to the financial loses of Hanjin, which led to the displacement of at least 3,400 workers.

During its heydays, the shipyard employed as many as 30,000 workers.

Eisma said the new operator of the shipyard is open to rehiring the displaced workers of Hanjin.

“We are very excited because it means many jobs will be back,” Eisma said.

Last month, the Philippine Navy (PN) announced it has already signed a “term sheet” with HHICC-PHIL for the use of the North Yard of the 300-hectare shipyard in Subic.

The Navy plans to convert the 100-hectare North Yard to house its Philippine Fleet, Naval Sea Systems Command, Naval Installation Command, and the Amphibious Assault Battalion.