A joint venture between a Spanish and a Filipino firm and a South Korean firm bagged the first two civil contracts for the Malolos-Clark Railway Project financed by the Asian Development Bank (ADB).
ADB said in a statement that the two civil works contracts amounted to P38 billion, or $728 million. This will jumpstart the first phase of the project.
The first contract was awarded to the joint venture of Spain’s Acciona Construction Philippines Inc. and EEI Corp. while the second contract was secured by South Korea’s POSCO Engineering and Construction Co. Ltd.
“Today’s signing of the two civil works contracts for the Malolos-Clark Railway Project is a milestone for the Philippine government’s landmark Build, Build, Build infrastructure development program,” ADB Director General for Southeast Asia Ramesh Subramaniam said on Saturday.
The joint venture of Spain’s Acciona Construction Philippines Inc. and EEI Corp. will build about 6.3 kilometer (km) of main railway lines and 1.6 km of depot access line, including an underground railway station at Clark International Airport.
The other contract, which was awarded to South Korea’s POSCO Engineering and Construction Co., Ltd., will erect a 33-hectare depot and a railway operations control center in Mabalacat, Pampanga. Three more contracts for civil works are set to be awarded later this year.
The Japan International Cooperation Agency, which is cofinancing the project, will provide up to $2 billion in additional funding for the rolling stock and railway systems.
ADB said the entire project is expected to create 24,000 local construction jobs in the next three years and 14,000 more jobs related to the railway system’s operation.
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