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Hanjin pushes ahead on Philippine shipyard -minister

Tue Dec 2, 2008 6:14am EST

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HONG KONG, Dec 2 (Reuters) - South Korea's Hanjin Heavy Industries (003480.KS) is proceeding with its plan to build a $2 billion shipyard project in the southern Philippines, Trade Secretary Peter Favila said Tuesday.

"Company officials told me that they are proceeding with the project. They are just waiting for some approval," Favila said in an interview.

A Manila newspaper reported last month that Hanjin was abandoning the project after failing to secure permits and clearances from the local government. A Hanjin spokesman has said the company has not made a final decision yet on whether to drop it or not. [ID:nSEO171173] (Reporting by Jun Ebias; Editing by David Holmes)



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