MANILA, Philippines — The Philippine Navy has signed a term sheet for its use of Hanjin Heavy Industries and Construction’s (HHIC-PH) facility in Subic Bay, Zambales.
Vice Adm. Giovanni Carlo Bacordo, chief of the Navy, said on Monday that negotiations were ongoing for the Navy’s use of HHIC-PH’s northern yard.
“Just last week, I signed a term sheet for the [HHIC-PH’s] northern yard,” Bacordo said. “The term sheet means negotiation will continue, that [we] have accepted the terms there [for use],” he added,
The Navy plans to use 100 hectares of the northern yard to house the Philippine fleet, the naval sea systems command, the naval installation command and amphibious assault battalion.
—JEANNETTE I. ANDRADE
MOST READ
LATEST STORIES