MANILA, Philippines — The search may soon be over for an investor who can take over the shipyard facility of financially troubled Hanjin Heavy Industries and Construction Philippines in Subic, according to Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma Eisma.

Eisma, in an interview yesterday on the sidelines of the SFEX capacity expansion groundbreaking, said negotiations are ongoing between creditor banks and a leading candidate, with hopes of finalizing talks next month.

“As we speak, they (creditor banks) are now in what they call an exclusivity discussion with the particular entity already,” she said, without disclosing the identity of the possible buyer.

“The hope is that they’ll be able to finish discussions by the end of October and we’ll be able to announce in December what would be the final path for Hanjin. We are really getting very close,” Eisma said.

Eisma said more than one foreign company as well as Filipino firms have expressed interest in taking over the facilities of the South Korean shipbuilder in Subic.

The Board of Investments earlier said Dutch shipbuilding firm Damen Shipyard Group, French firm Naval Group, and an American firm have promised to come up with studies and business proposals for Hanjin’s facility in Subic.

Other foreign firms have also earlier expressed interest in Hanjin’s Subic facility, with two from China, two from the US, and two from Japan.

International Container Terminal Services Inc. of ports tycoon Enrique Razon also previously said that it was trying to put a team together for a potential Hanjin offer.

Eisma said SBMA has been continuously working closely with the Department of Labor and Employment to help the thousands of affected workers of Hanjin.

“Sadly, there are still some who have yet to be able to find their footing back again. Based on my last discussions with the creditor banks and interested foreign investors, all the 33,000, if not more, should again be accommodated should this deal push through,” she said.

In January, Hanjin filed for rehabilitation before an Olongapo City court, after being affected by the global economic slowdown, which in turn impacted trade.

It has roughly P21 billion in debts to some of the country’s biggest banks.

Source: Philippine Star

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NLEX Corp. is targeting to complete the P1.6-billion Subic Freeport Expressway (SFEx) capacity expansion project by September next year.

The company started “full blast” work on the enhancements yesterday, with a groundbreaking ceremony in Subic, Zambales joined by officials from NLEX Corp. and the Subic Bay Metropolitan Authority (SBMA). Sta. Clara International Corp. has been tapped as the project contractor.

The SFEx capacity expansion project involves the construction of two additional lanes, two new bridges at Jadjad and Argonaut, and a new tunnel on the 8.2-kilometer toll road.

“We at MPTC (Metro Pacific Tollways Corp.) and NLEX Corp. believe that one of the key drivers of economic growth is the network of high quality roads,” NLEX Corp. President Luigi L. Bautista said in his speech at the ceremony.

“By increasing the road capacity of SFEx…the transport of goods in and out of the Subic Freeport will be faster and simpler,” he added.

Subic is home to the Subic Bay Freeport Zone, a special economic zone that facilitates trade in the Central and North Luzon through shipping.

SBMA Chairman Wilma T. Eisma said aside from helping the smooth flow of goods in and out of the province, the SFEx expansion is expected to make Subic a more viable tourist and investment destination because of improved connectivity.

“I could guarantee you that there will be an increase, not just in investors, but (also in) tourism. Because connectivity is really important for mobility of people. As companies continue to come in, it is very important for us to grow Subic as a tourism destination for Filipinos and foreigners alike,” she said.

NLEX Corp. said it will also improve the existing SFEx by adding LED lights and enhancing its drainage system to address flooding in the area.

NLEX Corp. is under MPTC, the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Denise A. Valdez

Source: www.bworldonline.com

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SUBIC BAY FREEPORT–Officials of the NLEX Corporation on Thursday. Sept. 12, led groundbreaking ceremony for the construction of the P1.6-billion Subic Freeport Expressway (SFEx) expansion project.

The project was expected to improve traffic safety and cut travel time to and from this free port.

NLEX Chief Operating Officer Raul Ignacio said the project will reduce travel time from Hermosa, Bataan to this free port to just 10 minutes from an hour.

“And that means comfort mobility and more fun going to Subic,” he said.

The expansion of the 8.2-kilometer SFEx includes the construction of two additional expressway lanes, two new bridges and a new tunnel.

Ignacio said an additional lane on each side of the expressway will also be built as part of the project, which is expected to be completed by September 2020.

The Maritan Highway-Rizal Highway-Tipo Road Junction will also be rehabilitated to prevent flooding during rainy days and high tides. Joanna Rose Aglibot/TSB

Source: Inquirer

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SUBIC BAY FREEPORT–The Subic Bay International Airport (SBIA) opened a facility for aviation maintenance, repair and overhaul (MRO) services here, the Subic Bay Metropolitan Authority (SBMA) said on Thursday (Aug 29).

The project was funded by business aviation services provider Aviation Concepts Technical Services Inc. (ACTSI), according to SBMA Chair and Administrator Wilma Eisma.

In a statement, Eisma said the new airport facility is expected to boost SBMA’s plan to make the Subic airport a 24/7 hub for business aviation.

“We have long dreamed of developing the SBIA into a business and general aviation airport in the country, and this project is one huge step towards realizing that vision,” Eisma said.

ACTSI is the maintenance arm of Falconer Aircraft Management, Inc., an affiliated company of global port management firm International Container Terminal Serives, Inc.

The firm has upgraded about 18,000 square meters of hangar space at the SBIA. Joanna Rose Aglibot/TSB

Source: Inquirer

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As Kacific plans for the launch of its Kacific1 satellite later in the year, it has selected ABS for its ground infrastructure. ABS’ teleport in Subic Bay, the Philippines, will host, operate and provide first level support for its gateway hub.

Kacific1 will be a pioneering High Throughput Satellite (HTS) to be located over Asia-Pacific using Ka-band spot beams for extremely cost-efficient broadband delivery. Its 56 powerful high throughput beams will cover select areas over the Pacific Islands and South East Asia, with six beams covering The Philippines archipelago and a further 21 beams covering Indonesia, Timor-Leste and Malaysia.

“Kacific chose to locate its ground infrastructure in the Philippines because it is a priority market for us,” says Kacific CEO, Christian Patouraux. “Our beams will reach 100 percent of the nation’s population across its many islands, making affordable connectivity available to all those who are currently unserved or underserved. ABS is an ideal partner as they have a proven track record and, like us, have also made a commitment to the Philippines.”

ABS has its primary space operations center for its entire fleet of six satellites in Subic Bay. Its teleport facilities operate with extremely high availability, with triple redundant power supply and fiber connectivity to Tier-1 IP international peering points. In keeping with Ka-band operating norms for tropical regions, ABS has arranged a diversity site to be located nearby at the Clark Freeport Zone. The teleports will operate on an active diversity basis using state-of-the-art connectivity via a dedicated fiber route to directly optically connect the two gateway hubs. This ensures that commercial traffic would have a reliable transmission from one of the sites if, for example, rain degradation was impairing the functionality of the other.

ABS’ Philippines teleport is equipped with the latest technologies and platforms. It serves as one of the major satellite hubs over the Asia-Pacific region, hosting more than 50 antennas. As satellites provide a complementary role to 5G connectivity, the Subic facility is poised to be a gateway for future 5G services, especially to remote areas. The facility is managed by professional personnel and experienced engineers providing round-the-clock services, 24 x 7 customer support and a dedicated customer program

Source: spacewatch.global

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