The Japanese shipbuilding company Tsuneishi Shipbuilding Co. Ltd. reportedly has announced plans to build a ship recycling facility in the Visayas region of the Philippines
The Manila Standard reports that Tsuneishi will invest 5 billion pesos ($100 million) to build the plant, which is expected to result in 6,000 jobs.
In the article, Philippines’ Trade Secretary Ramon Lopez says, “We met Tsuneishi President Kenji Kawano to discuss the expansion plans of Tsuneishi shipbuilding in the Philippines. Our discussions now also covered a prospective third project on ship recycling, using the latest internationally accredited green technologies."