US investment firm Cerberus Capital will be investing approximately P15 billion or $250 million in the Philippines over the next 12 months.
The company, which operates the 300-hectare Agila Subic Shipyard, the former Hanjin Shipyard in Subic Bay that it acquired in 2022, disclosed the plan during a meeting with President Ferdinand Marcos Jr. in Washington D.C. earlier this week.
In a press release Friday, the company said the additional investments would be used to update the shipyard and new logistics, energy, and transport infrastructure projects.
Cerberus managing director Alexander Benard said they were “encouraged by the progress we’ve seen and by the strong support from the Philippine government.”
“We believe the Philippines holds significant long-term potential as a regional hub for industrial and logistics activity. We look forward to building on this momentum and supporting the development of our key strategic assets in the Philippines.”
Marcos’ special economic adviser Frederick Go, who was part of the president’s delegation, said “these projects are vital to improving our country’s energy resilience and logistics infrastructure.”
“They will create thousands of jobs, open new avenues for regional growth, and position the Philippines as a key logistics hub in Southeast Asia.”
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