HomeEconomyVectrus, Philippine Navy first tenants at ex-Hanjin yard

Vectrus, Philippine Navy first tenants at ex-Hanjin yard

  • Vectrus, Philippine Navy are first tenants at ex-Hanjin shipyard in Subic Bay Freeport
  • The shipyard is now called Agila Subic
  • US-based global service solutions provider Vectrus will occupy most of the shipbuilding area, including the quays
  • The Navy now occupies Hanjin’s former administrative office, mess hall, and barracks
  • Former Hanjin workers with skills learned from the shipbuilder will be hired by the company

Vectrus and the Philippine Navy are the first tenants at the former Hanjin shipyard in Subic Bay Freeport, Subic Bay Metropolitan Authority (SBMA) said in a statement.

Vectrus, a US-based global service solutions provider, will occupy most of the shipbuilding area of the facility, including the quays, while the Philippine Navy is now occupying the former Hanjin administrative office, mess hall, and barracks, SBMA said in a statement.

The shipyard is now called Agila Subic.

Vectrus is a global service solutions provider to the US government and across the world, offering facility and base operations, supply chain and logistics services, information technology mission support, and engineering and digital integration services.

Former Hanjin workers who have acquired skills from their shipyard job will be hired by the company, as it will require skilled workers, SBMA said. Vectrus has already hired 29 workers.

Subic Mayor Rolen Paulino Jr. said the city government plans to provide skills training to its residents, as he sees a boom in employment in the ship repair industry in the area.

The Fiscal Incentives Review Board (FIRB), at the endorsement of SBMA, approved the grant of tax incentives to Project AGILA recently for the redevelopment and operation of the former shipyard of Hanjin Heavy Industries and Construction-Philippines Inc.

READ: P17B Subic shipyard gets tax incentives

This project, with a total project cost of P17 billion, is funded by US-based private equity firm Cerberus Capital Management. The project will also cater to potential export locators.

The project was granted special corporate income tax, value-added tax exemption from importations, VAT zero-rating on local purchases, and duty exemption on importations.

The mayor’s father, SBMA chair and administrator Rolen Paulino Sr., had said earlier that Cerberus Capital Management and Agila NY Naval Inc./Agila South Inc. would be taking over the former Hanjin shipyard.

He said one of the mandates given to him by President Rodrigo Duterte is to ensure a smooth takeover of the former Hanjin facility.

The 300-hectare area to be taken over was once occupied by the South Korean shipbuilder, which had been Subic’s biggest locator before it went bankrupt in 2019.

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