Should the government acquire control of cash-strapped Hanjin Heavy Industries and Construction (HHIC-Phil), the next option is to get interested parties or shipbuilders to operate its shipyard in Subic Bay, Zambales.
This was emphasized by Department of National Defense (DND) Secretary Delfin Lorenzana when asked about updates on the government plans on the South Korean shipbuilder Monday (June 10).
In the same interview, he said that foreign or local investors are still to make any formal offer or bid regarding the HHIC-Phil’s shipbuilding operations.
“We are still yet to see any formal offer, so (the) Hanjin (matter) is now being handled by the Department of Finance (DOF) and the SBMA (Subic Bay Metropolitan Authority) as they are talking with local banks where the company has outstanding loans with. DOF is looking on how to pay these banks so that we can get Hanjin and then after we take over Hanjin, then we can now select who among (the) interested parties (are) best suited to our purpose and run it as a shipyard to make money,” Lorenzana said in a mixture of English and Filipino.
Read more on PNA.