Megaship Builders allocates PHP 9 billion for shipyard expansion

Megaship Builders Inc. is set to invest PHP 9 billion to expand its shipyard in Leyte and establish a new facility in Bataan, marking a significant milestone in its growth strategy.

Francis Lloyd Chua, owner of Megaship Builders and the newly acquired Asiabest Group International, announced the expansion as a strategic move aligned with the government’s Maritime Industry Development Plan (MIDP) 2028. The MIDP emphasizes maritime industry growth to spur economic development and enhance trade.

Established in 2012, Megaship Builders currently operates a shipyard in Leyte with a shipbuilding capacity of 50,000 deadweight tonnage (DWT) and ship repair capability of 20,000 DWT. The expansion will double these capacities to 100,000 DWT.

Meanwhile, the forthcoming shipyard in Bataan will boast a shipbuilding capacity of 200,000 DWT and a ship repair capacity of 100,000 DWT, making it a significant player in the region’s maritime sector. These facilities will offer shipbuilding, repair, and conversion services, as well as assist shipowners in designing and installing advanced mechanical systems.

The company’s expansion plans align with the Shipyard Modernization Program, a cornerstone of the MIDP. To support these efforts, Megaship Builders secured financing from the Development Bank of the Philippines (DBP). This funding has enabled the Leyte shipyard to increase its operational capacity from handling two ships per month to six to eight ships.

Additionally, the introduction of slipways—ramps facilitating the movement of ships between land and water—within its facilities has revolutionized operations. According to the company, this innovation significantly enhances the efficiency of building large vessels, bolstering maritime logistics and trade.

Megaship Builders anticipates that these advancements will have a ripple effect across the industry, potentially boosting trade revenues by up to 50%. By improving the capacity to build and repair larger vessels, the company aims to contribute to the growth of the Philippine maritime sector and solidify its position as a leader in shipbuilding and repair.