Three foreign groups are battling to take over the Hanjin Heavy Industries & Construction shipyard in the Philippines.
The country's trade undersecretary Ceferino Rodolfo was cited by Business Mirror as saying that the trio had pledged to devise business plans for the company, which sought court rehabilitation in January after defaulting on debt.
The three are Damen Shipyards of the Netherlands, France's Naval Group and a consortium of US firms, Rodolfo said.
Executives from Damen have reportedly visited the Philippines for talks.
Chairman Kommer Damen was said to have indicated his company was in a position to take over the Subic Bay yard, as it is not affected by the over-capacity in the cargoship market, with a focus instead on dredgers, tugs, cruiseships and other specialist ships.
