Megawide Construction Corp. is set to start construction of the first phase of the Malolos-Clark Railway Project (MCRP) in the second quarter of the year, after bagging three contracts cumulatively worth P3.1 billion.
The company said its batching plant, formworks, and construction equipment and logistics services (CELS) business units, will supply concrete and provide support facilities to the consortium of Hyundai Engineering & Construction Co. Ltd., Dong-ah Geological Engineering Company Ltd., and Megawide.
The contracts include P2.9 billion for the supply of concrete materials, P152 million for the provision of temporary facilities, and another P59 million for the initial equipment supply contract.
"Megawide will continue to leverage on its vertically-integrated construction advantage to deliver much-needed infrastructure projects like the MCRP, on time and with high quality and excellent workmanship," Megawide Chairman and Chief Executive Officer Edgar Saavedra said in an emailed statement.
Megawide and its Korean partners bagged the contract for the MCRP Package 1 in September 2020. Under the contract, the construction will build and provide civil engineering works for some 17 kilometers of viaduct structure, including elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga.
The MCRP is part of the larger North-South Commuter Railway (NSCR) project of the Department of Transportation (DOTr) which will eventually connect the New Clark City in Capas, Tarlac to Calamba, Laguna.
Other projects of Megawide include the Philippine School for Infrastructure Phases 1 and 2; the Paranaque Integrated Transport Exchange (PITX), and the construction of Terminal 2 of the Mactan-Cebu International Airport, among others.
Shares in Megawide are trading P6.95 apiece as of writing, up P0.3 or 4.51% from Tuesday's finish of P6.65. -MDM, GMA News
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