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| Philippines is now the 4th Largest Shipbuilding in the World |
Austal is an Australian company that specializes in the design and construction of aluminum vessels. It has 3 production facilities and one of them is in Balamban Cebu - making the Philippines 4th largest shipbuilding in the world to date.
PNOY graced the opening of Austal Philippines shipyard facility last January 16, 2013. It currently employed 250 Filipinos and Austal presence in our country will help accelerate the growth in shipbuilding sector.
Austal main products includes passenger and freight ferries, luxury yachts and military vessels.
In 2011, ship exports reached $638 million - 57.9% higher than previous year. New vessels construction for 2013 are seen to rake in $70 million and generate jobs to nearly 300 Filipinos.
Sources:
Wikipedia Austal
Philippine Information Agency
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