Leyte shipyard to fully open by mid-2024

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Leyte shipyard to fully open by mid-2024
IMP Shipyard facade photo from the Board of Investments.
  • Leyte-based IMP Shipyard and Port Services, Inc. will be fully operational by mid-2024 with 10 berths for construction and repair services
  • The Board of Investments-approved shipyard is the first shipbuilding and repair facility registered under Tier I of the Strategic Investment Priority Plan in accordance with the CREATE Law
  • The facility, with an initial investment of P500 million, was established in 2019 and inaugurated in February 2023

Leyte-based IMP Shipyard and Port Services, Inc. is set to be fully operational by mid-2024, the Board of Investments (BOI) said in a statement.

The facility in Albuera, Leyte will have ten berths to accommodate two ships for new construction and eight ships for ship repair services.  One of its flagship projects involves the construction of an energy-efficient ferry as part of the re-fleeting program of Metro Ferry Cebu, a domestic shipping company based in Cebu.

The BOI-approved IMP Shipyard is the first shipbuilding and repair facility registered under Tier I of the Strategic Investment Priority Plan in accordance with the Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Law.

READ: IMP Shipyard launches full-service facility in Leyte

For its shipbuilding and ship repair services, IMP aims to design and build steel-hulled vessels of 50 meters length overall and below, in support of the Coastal and Inland Water Transport System of the Maritime Industry Authority (MARINA) and committed to a fast turnaround of vessels for its repair services, BOI said.

With an initial investment of P500 million, the shipyard was established in 2019 and inaugurated in February 2023.

In the future, it plans to expand into strategic locations to accommodate larger vessels and potentially establish a ship-breaking and recycling facility to support the government’s ship retirement and replacement program.

Aligned with the Maritime Industry Development Program 2028 Road Map, IMP Shipyard focuses on priority programs such as shipbuilding, ship repair, community empowerment, capacity building, and seafarers’ reintegration, according to BOI.

IMP Shipyard’s entry is expected to bolster the country’s shipbuilding industry, positioning it as a global maritime hub, the agency added.

The project will create employment opportunities, particularly for returning seafarers, through collaboration with the Department of Migrant Workers-National Reintegration Center for OFWs, according to BOI.

The company aims to capacitate returning seafarers for their upskilling and reskilling and provide for their potential business opportunities in the ancillary services of IMP Shipyar, BOI added.

In the last ten years, BOI has approved 35 shipbuilding projects in the manufacturing and transport and storage industries.

The Philippine is the world’s fourth-largest shipbuilding nation, with 115 MARINA-registered shipyards employing more than 30,000 workers.