DBP grants P4.17 billion loan to local shipbuilder

Published January 29, 2021, 5:00 AM
The Development Bank of the Philippines (DBP) has granted a P4.17-billion loan to Megaship Builders, Inc. (MBI) to upgrade and expand its shipbuilding and ship repair complex in Albuera, Leyte.
“The project will increase the shipyard’s capacity from 10,000 Deadweight tonnage (DWT) to 200,000 DWT,  accommodating an average of 10 vessels per month from the current two vessels per month,” according to DBP President and Chief Executive Officer Emmanuel G. Herbosa.
It is also welcome news, considering that at present, the country has a dismal ratio of 204 vessels to one shipyard.  
DBP President and Chief Executive Officer Emmanuel G. Herbosa

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