EconomyForex

Megawide, JV partners sign P2.9-B Malolos-Clark railway deal

1 Mins read

MEGAWIDE Construction Corp. announced on Tuesday that it recently signed a subcontracting agreement with Hyundai Engineering & Construction Co., Ltd. and Dong-ah Geological Engineering Co. Ltd. to supply ready-mix concrete for the package 1 of the Philippine National Railways (PNR) Clark Phase 2 (Malolos-Clark) railway project.

The company said it signed the agreement with its joint venture (JV) partners on April 21.

“The P2.9-billion contract provides for the installation and operation of concrete batching plants and supply of ready mix concrete to the project,” the company said in a disclosure to the stock exchange.

Megawide will put up two mobile batching facilities with rated capacities of 120 and 80 cubic meters per hour.

The company said in April its batching plant, formworks, and construction equipment and logistics businesses were preparing to supply concrete materials and provide support facilities to the consortium of Hyundai Engineering & Construction, Dong-ah Geological, and Megawide after winning a “stringent” bidding process.

“The combined contracts for the services is more than P3.1 billion — 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 said in a news release.

“The 54-kilometer PNR Clark Phase 2 (Malolos-Clark), which will feature the country’s first airport railway express service, forms part of the 148-kilometer NSCR Project, stretching from Laguna to Clark, Pampanga. The other two segments are the PNR Clark Phase 1 (Tutuban-Malolos) and PNR Calamba (Solis-Calamba),” the company noted. — Arjay L. Balinbin

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