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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. 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.
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