CASTILLEJOS, Zambales—Officials of Korean shipbuilder Hanjin Heavy Industries and Construction Co. Ltd.-Philippines Inc. and the Home Development Mutual Fund (Pag-Ibig Fund) led ground breaking ceremonies on Wednesday for a P1.5-billion housing project for shipyard workers in Barangay Nagbunga here.
The project, which will serve up to 3,000 shipyard workers, will rise on a 30-hectare land donated by Hanjin for its workers. The project is expected to be completed in 2013.
Marilene Acosta, Pag-Ibig Fund vice president for North Luzon, said her agency will provide P1.5 billion to qualified shipyard workers.
The housing project will be built in phases, with the construction of 1,000 houses to start this month.
After the project completion, the rest of Hanjin’s 20,000 workers could benefit from similar programs in the future because “the Pag-Ibig Fund’s partnership with Hanjin will continue for decades to come,” Acosta said.
In a speech during the ceremonies, Hanji president Jin Kyu Ahn said the housing project represents the firm’s corporate social responsibility mission “to provide shipyard workers the most affordable housing package.”
The Hanjin village site, which is 19 km (or a 20-minute drive) from the shipyard, will include an elementary school.
“All of these features translate to a better quality of life,” Ahn said. Robert Gonzaga, Inquirer Central Luzon