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CALOOCAN CITY, Jan. 30 (PIA) State-owned Development Bank of the Philippines (DBP) has granted a P4.17-billion term loan to Megaship Builders, Inc. (MBI) to upgrade and expand its shipbuilding and ship repair complex in Albuera, Leyte, a top official said.
DBP President and Chief Executive Officer Emmanuel G. Herbosa said that the loan proceeds will be used to partially finance the construction of the shipyard’s second and third slipways, office building, and other support facilities.
“Once completed, this shipyard expansion project is expected to increase the capacity of the shipyard from 10,000 Deadweight tonnage (DWT) to 200,000 DWT, thus accommodating an average of 10 vessels per month from the current two vessels per month,” Herbosa said.
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