THE Board of Investments (BoI) said on Wednesday that IMP Shipyard and Port Services, Inc. is planning to expand its operations in order to service larger vessels.
In a statement, the BoI said the company’s plans surfaced after IMP launched a P500-million shipyard project in Albuera, Leyte, last month.
“Looking ahead, IMP Shipyard 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,” the BoI said.
“Prospective investors and domestic shipowners are invited to explore collaboration opportunities,” it added.
IMP Shipyard’s Leyte project, expected to be fully operational by mid-2024, has 10 berths, with eight dedicated to repair and two to new-ship construction.
As the first shipbuilding and repair facility approved by the BoI under the Strategic Investment Priority Plan, the Leyte project also aims to build energy-efficient ferries to win contracts during the refleeting of Metro Ferry Cebu.
IMP Shipyard also plans to build commercial fishing vessels and a fish port with refrigeration facilities to service the needs of small-scale fisherfolk.
“The project will provide significant employment opportunities, in collaboration with the Department of Migrant Workers-National Reintegration Center for OFWs (overseas Filipino workers),” the BoI said.
“The company aims to capacitate returning seafarers for their upskilling and reskilling and provide potential business opportunities in the ancillary services of IMP Shipyard,” it added.
In the last 10 years, the BoI has approved 35 shipbuilding projects.
The Philippines is the fourth-largest shipbuilding nation, with 115 registered shipyards under the Maritime Industry Authority employing over 30,000 workers. — Justine Irish D. Tabile
