Tsuneishi Heavy plans US$100 mln expansion of Cebu shipyard

Cebu-based shipbuilding company Tsuneishi Heavy Industries Cebu Inc. (THICI) has made a commitment to invest US$100 million or roughly P5 billion in the expansion of its shipyard in Balamban town in Cebu’s western seaboard.

THICI, a joint venture between Japan’s Tsuneishi Corp., one of the world’s leading shipbuilders, and Aboitiz and Co., has been building 58,000 deadweight-ton (dwt) bulk carriers since 1995.