Subic Bay Freeport — The Agila Subic Compass (Agila Subic) is set to revitalize the former Hanjin shipyard in Redondo Peninsula into a multi-use industrial facility.

In a press briefing at the Redondo Peninsula on 7 August 2025, Agila Subic gave media personnel a glimpse of the 300-hectare site, now home to world-class companies and the Philippine Navy.

According to Agila Subic General Manager Mark Millan, one of the first tenants is the Philippine Navy, which established its Naval Operating Base there for billeting, training, and naval fleet maintenance.

“Agila Subic also houses companies such as HD Hyundai Heavy Industries Philippines, the world’s number one shipbuilder, for shipbuilding, repair, and offshore wind platform construction,” Millan said.

“Another is SubCom, a global leader in subsea fiber optic cable manufacturing and installation, and V2X, an NYSE-listed logistics company providing disaster relief and humanitarian support,” he added.

Agila Subic’s revitalization has driven substantial economic benefits, with total investments expected to approach USD 1 billion.

The facility is quickly emerging as a strategic hub for shipbuilding, subsea infrastructure, and logistics operations in the Asia-Pacific region. Its ongoing development has boosted the local economy, with noticeable growth in new restaurants, shops, and small businesses.

Beyond economic contributions, Agila Subic is generating thousands of skilled jobs through its tenants, driving demand for local talent and empowering Filipino engineers, skilled workers, contractors, and service providers.

“When we started operations in 2022, we committed to transforming the facility into an economically viable site that would attract world-class locators and create thousands of direct and indirect jobs in Subic Bay and surrounding communities, thereby contributing to the Philippines’ economic growth. We are pleased to see that we are on track in achieving that vision after only three years of operations, through partnerships with our locators and with support from the Philippine government,” Millan concluded.