Japan’s Tsuneishi Shipbuilding is readying a massive new ship recycling facility in the Philippines.
The firm, which already has shipbuilding yards in Japan, China and the Philippines, has confirmed it will spend P500bn ($99.23m) on the new green recycling center. The investment is expected to generate around 6,000 jobs and provide China, the current leader in green recycling, with some healthy local competition.
“Due to the very high quality of steel components of ocean-going vessels, the steel-recycling project will not only meet the country’s requirements for inter-island vessels for transport and logistics but also cover the steel requirements of major infrastructure work,” said Ramon Lopez, the Philippine secretary for trade and industry today.
Tsuneishi is owned by the Kambara family, who also control an eponymous shipping line. The company’s shipbuilding yard in Cebu has expanded a great deal in recent years and is now a competent capesize builder to go alongside its original handy and supramax offerings.