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(From Lloyds List)
Byline: Unnamed shipbuilder lines up Subic Bay, writes Marcus Hand in Singapore
A SOUTH Korean shipbuilder is lining up plans to invest in a $1bn shipyard in Subic Bay, the Philippines.
An unnamed Korean yard has signed preliminary papers with the local authorities in Subic Bay to invest in the $1bn facility, the Philippines press reported.
The yard is planned to be completed in five years and would be the fourth largest in the world, employing 20,000 workers.
Subic Bay Metropolitan Authority administrator and chief executive Armand Arreza said an investment agreement would be signed in mid-December when South …