Tsuneishi's Philippine venture set to grow

Cebu: Tsuneishi Heavy Industries (Cebu) Inc, the Philippine subsidiary of Japan's Tsuneishi Corp, is ready to seriously expand, reports the Kaiji Press. The company has already acquired a 70-80-ha land lot adjacent to its existing yard and is hoping to obtain the Manila government's go-ahead for the project by the end of 2006. The present plans call for the construction of a new dock capable of building a vessel up to a Capesize bulker. Tsuneishi is planning to boost THI's annual sales to Y100 billion in 2010.   [28/08/06]