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Phillippines News

16 May 2024

Part of Philippine Subic Bay Shipyard Leased Out for Offshore Wind

Copyright Pipo/AdobeStock

Cerberus Capital Management agreed to lease part of its 350-hectare Philippine shipyard in Subic Bay to HD Korea Shipbuilding and Offshore Engineering, which plans to build a facility there to manufacture offshore wind platforms.The shipyard was run by Hanjin Philippines before it defaulted on loans worth $1.3B in 2019.

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