South Korean shipbuilder picks Philippines to make floating wind platforms

Marcos says deal with Cerberus will revive maritime manufacturing at Subic Bay

Subic Bay, which offers access to the South China Sea, hosts a Philippine naval base. (Photo by Yuichi Shiga)

YUKI FUJITA, Nikkei staff writer

May 16, 2024 03:35 JST

MANILA -- A leading South Korean shipbuilder will construct a Philippine production hub for floating offshore wind power platforms with U.S. private equity group Cerberus Capital Management.

Under a strategic partnership announced Wednesday, HD Korea Shipbuilding & Offshore Engineering will lease part of a Subic Bay shipyard from Cerberus in a multiyear deal.