Megawide Construction Corp. and its two Korean partner companies have been awarded the contract for the P28-billion package 1 of the Malolos-Clark Railway Project (MCRP).
The notification of award was issued to the joint venture of Megawide and Korean companies Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Dong-ah Geological Engineering Company Ltd. (Dong-ah) on September 18, Megawide said in a statement.
MCRP is part of the larger North-South Commuter Railway (NSCR) project of the Department of Transportation (DOTr). The JV will undertake building and provision of civil engineering works for about 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,” Megawide chairman and chief executive officer Edgar Saavedra said.
Megawide noted that MCRP and other infrastructure projects are “critical in jumpstarting the economy,” as they come at a time when the property market is softening and private sector developers are recalibrating expansion plans due to the COVID-19 crisis.
The MCRP 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 three to four years during the development phase.
In addition, since precast materials and construction ancillary services will be major components of these kinds of development, Megawide said the project will also benefit its 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 said.
