Shipbuilding Complex at PHIVEDEC area

This year, Hanjin Heavy Industries and Construction Co. of Korea would linked a contract to build a $2-billion shipbuilding complex at Misamis Oriental with the Phividec Industrial Authority. It is bigger than Hanjin’s $1-billion shipyard complex in Subic, Olongapo City which will hire 20,000 Filipinos to manufacture ship parts. The Philippine government declared the 441.8-hectare project site an economic zone (part of 3,000-hectare industrial estate managed by Phividec).