The National Transmission Corporation (TransCo) signed a memorandum of Understanding last Monday, July 17 with Hanjin Heavy Industries & Construction (HHIC-Phil., Inc.) for the direct power connection of Hanjin’s shipbuilding facility to be built inside the Special Economic Zone in Castillejos, Zambales inside the Subic Bay Metropolitan Authority (SBMA) complex.
TransCo President Alan Ortiz and HHIC-Phil., Inc. President Jeong Sup Shim signed the Memorandum of Understanding on behalf of their companies.
“We welcome this partnership which will allow one of the biggest shipbuilding companies in the world today to relocate their entire facility from Korea to the Philippines, bringing in jobs, technology, and new confidence in the Philippine economy,” Ortiz said.