Leyte-based IMP Shipyard and Port Services Inc. disclosed plans to expand into strategic locations to accommodate larger vessels and potentially establish a ship-breaking and recycling facility to support the government’s ship retirement and replacement program.
The company is looking for prospective investors and domestic shipowners who are interested to explore collaboration opportunities.
The Board of Investments (BOI) said it approved IMP Shipyard as the first shipbuilding and repair facility registered with under Tier I of the Strategic Investment Priority Plan (SIPP) in accordance with Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) Law.
It said the P500-million project would enjoy incentives such as income tax holiday (ITH) for six years; enhanced deductions for five years; and duty exemption on importation of capital equipment, raw materials, spare parts, and accessories for a maximum of 12 years.
IMP Shipyard inaugurated the state-of-the-art facility in February 2024 in Albuera, Leyte.
The shipyard is expected to be fully operational by mid-2024, equipped with capacity of ten berths to accommodate two ships for new construction and eight ships for ship repair services.
Aligned with the Road Map of the Maritime Industry Development Program (MIDP 2028), IMP Shipyard is focused on the five priority programs that encompass the whole-of-MIDP approach—shipbuilding, ship repair, community empowerment, capacity building and seafarers re-integration program.
One of its flagship projects involves the construction of an energy-efficient ferry as part of the re-fleeting program of Metro Ferry Cebu, a domestic shipping company based in Cebu.
It also disclosed plans to build commercial fishing vessels and establish a fish port equipped with refrigeration units, stimulating economic activities and benefiting local fisherfolk.