MANILA, Philippines — New York-based non-public fairness large Cerberus Capital Administration is seeking to make investments an extra $250 million (P15 billion) in shipyard enchancment and key infrastructure initiatives within the Philippines.
In a press release on Friday, the Workplace of the Particular Assistant to the President for Funding and Financial Affairs of the Philippines stated Cerberus’ funding covers the upgrading of its Agila Subic Shipyard in Subic Bay and enterprise of logistics, power and transport infrastructure initiatives over the subsequent 12 months.
Cerberus acquired and redeveloped the Agila Subic Shipyard (previously referred to as Hanjin Shipyard) situated on the Subic Bay Freeport Zone in 2022 and invested $40 million to revitalize its operations.
Since then, the 300-hectare facility has turn into an important strategic hub for industrial, naval and logistics operations.
READ: New Hanjin shipyard proprietor desires dangers insured
At present, the shipyard hosts main tenants together with international shipbuilder HD Hyundai Heavy Industries, subsea fiber optic information cables producer SubCom, publicly listed logistics agency V2X and the Philippine Navy, which operates a portion of the power.
In line with Cerberus, HD Hyundai Heavy Industries will begin shipbuilding operations within the fourth quarter of this 12 months from the unique schedule of January 2026.
“This milestone marks a serious step ahead within the ongoing transformation of Agila Subic Shipyard right into a world-class industrial and maritime hub,” it stated.
Past Subic, Cerberus is pursuing further investments in important infrastructure and logistics initiatives throughout the Philippines.
Lengthy-term potential
“We imagine the Philippines holds important long-term potential as a regional hub for industrial and logistics exercise,” Cerberus managing director Alexander Benard stated.
“We sit up for constructing on this momentum and supporting the event of our key strategic property within the Philippines,” added Bernard.
Particular Assistant to the President for Funding and Financial Affairs Frederick Go stated Cerberus’ initiatives within the pipeline would generate 1000’s of jobs, open new avenues for regional development and safe the nation’s place as a key logistics hub in Southeast Asia.
READ: Restoring ‘glory days’ of shipbuilding
“These initiatives are very important to enhancing our nation’s power resilience and logistics infrastructure,” Go stated.
Headquartered in New York, Cerberus manages greater than $65 billion in property throughout complimentary credit score, actual property and personal fairness methods.
Your subscription couldn’t be saved. Please strive once more.
Your subscription has been profitable.
“For greater than three many years, we now have supplied capital options and working expertise to assist firms and properties around the globe enhance efficiency and drive worth creation,” in line with its web site.
/rwd
