Megawide, Korean partners win P28-B railway project

Engineering and infrastructure conglomerate Megawide Construction Corporation and its Korean partners have been awarded the contract for the P28 billion Malolos-Clark Railway Project (MCRP) Package 1.

Megawide’s joint venture partners for this projects are Korean companies, Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Dong-ah Geological Engineering Company Ltd. (Dong-ah).

MCRP is part of the largerNorth-South Commuter Railway (NSCR) project of the Department of Transportation (DOTr).

The consortium will undertake building and provision of civil engineering works for approximately 17 kilometers of viaduct structure, including elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga.

“Megawide, together with our world-renowned consortium partners in the field of engineering, Hyundai E&C and Dong-ah, is committed to deliver the highest standards of construction and engineering excellence for the MCRP. This will be another first-world infrastructure in the making,” said Megawide Chairman and CEO Edgar Saavedra.

The project has an estimated cost of P28 billion – equivalent to more than half of Megawide’s current order book of P48 billion – and will boost the Company’s construction segment revenue in the next 3-4 years during the development phase.

In addition, considering that precast materials and construction ancillary services will be major components for these kinds of development, the project will also benefit Megawide’s technologically-advanced business units and support expansion plans in this area.

 

“We are honored to be working with the Philippine Government on the MCRP. Not only will this project, once totally completed, spur growth in Central Luzon, it will also increase connectivity and unlock exciting commercial opportunities between Metro Manila and Clark. This is also a strong testament to how public and private sector cooperation – foreign and local alike – can effectively propel the country towards a First-World Philippines,” Saavedra added.

https://mb.com.ph/2020/09/21/megawide-korean-partners-win-p28-b-railway-project/

Hyundai E&C-led consortium wins US$573 mln deal from Philippines

(Yonhap) -- Hyundai Engineering & Construction Co. said Monday its consortium has clinched a US$573 million railway project from the Philippines.

Under the deal with the Department of Transportation, the Hyundai E&C consortium will build a 17-kilometer-long viaduct and two stations.

Hyundai E&C said it will take 48 months to complete the project.

Hyundai E&C has a 57.5 percent stake worth $330 million in the project, while the rest is held by the Phillipine engineering company Megawide Construction Corp. and South Korea's Dong-Ah Geological Engineering Co.

The deal is part of a 53-km-long railway project that will connect Malolos to Clark economic zone in the Philippines.

https://m-en.yna.co.kr/view/AEN20200921003700320

Megawide, Korean firms JV bags construction, engineering works for Malolos-Clark Railway project

Megawide Construction Corp. on Monday said its joint venture with Hyundai Engineering & Construction Co. Ltd. and Dong-ah Geological Engineering Company Ltd has been awarded the Malolos-Clark Railway Project (MCRP) package 1.

The consortium will undertake building and provision of civil engineering works covering 17 kilometres of viaduct structure, elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga it said in a disclosure to the stock exchange.

The project, estimated to cost P28 billion is seen to boost the company’s construction segment revenue in the next 3 to 4 years during the development phase. The MCRP project is equivalent to more than half of Megawide’s current order book of P48 billion. 

The Malolos-Clark Railway is a 53.1-kilometer train line that will connect Malolos in Bulacan to the Clark International Airport in Pampanga. It is expected to cut travel time from Manila to Clark to less than an hour and to serve 342,000 passengers daily. 

The Malolos-Clark line is part of the 163-kilometer North-South Commuter Railway Project, which aims to connect New Clark City to Calamba in Laguna. It is expected to be completed by 2025. 

“This will be another first-world infrastructure in the making…Not only will this project, once totally completed, spur growth in Central Luzon, it will also increase connectivity and unlock exciting commercial opportunities between Metro Manila and Clark. This is also a strong testament to how public and private sector cooperation – foreign and local alike – can effectively propel the country towards a First-World Philippines,” said Edgar Saavedra, Megawide chairman and CEO.

"At a time when the property market is softening and private sector developers are recalibrating expansion plans due to the COVID-19 crisis, public infrastructure projects, like the MCRP, are critical in jumpstarting the economy," it added.

https://news.abs-cbn.com/business/09/21/20/megawide-korean-firms-jv-bags-construction-engineering-works-for-malolos-clark-railway-project

Megawide team bags phase 1 of Malolos-Clark Railway project

The consortium of Megawide Construction Corp. (Megawide) and its Korean partners Hyundai Engineering & Construction Co. Ltd. and Dong-ah Geological Engineering Company Ltd. bagged a 17-kilometer segment of the Malolos-Clark Railway Project (MCRP) for an estimated project value of P28 billion.

The notification of award for MCRP package 1 was issued to the consortium on Sept. 18, Megawide said in a press statement on Monday.

MCRP is part of the larger North-South Commuter Railway (NSCR) project of the Department of Transportation (DOTr).

The consortium will undertake building and provision of civil engineering works for around 17 kilometers of viaduct structure, including elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga.

“Megawide, together with our world-renowned consortium partners in the field of engineering, Hyundai E & C and Dong-ah, is committed to deliver the highest standards of construction and engineering excellence for the MCRP. This will be another first-world infrastructure in the making,” said Edgar Saavedra, chair and CEO of Megawide.

The project’s estimated cost of P28 billion is equivalent to more than half of Megawide’s current order book of P48 billion. It is thus seen to boost the company’s construction segment revenue in the next three to four years during the development phase.

Considering that precast materials and construction ancillary services will be major components for these kinds of development, the project is also seen to benefit Megawide’s business units and support expansion plans in this area.

https://business.inquirer.net/307810/megawide-team-bags-phase-1-of-malolos-clark-railway-project