Hanjin, TransCo sign MOU

The National Transmission Corporation (TransCo) recently signed a memorandum of understanding with Hanjin Heavy Industries & Construction (HHIC) for the direct power connection of Hanjin’s shipbuilding facility to be built inside the Special Economic Zone in Castillejos, Zambales inside the Subic Bay Metropolitan Authority (SBMA) complex.

Hanjin expects to generate jobs for about 1,000 Filipino workers during the construction of the shipbuilding facility and directly employ about 3,000 to 7,000 professional managers, technical staff, and skilled shipyard workers. It will produce about $1-2 billion worth of exports and an investment inflow of about $1 billion during the erection of the plant and put the Philippines on the world map of large scale shipbuilding.