Megawide, Korean partners bag P28 billion MCRP

MANILA, Philippines — Megawide Construction Corp., the listed construction company, and its Korean partners Hyundai Engineering & Construction Co. Ltd. and Dong-ah Geological Engineering Co. Ltd. have bagged the contract to build a P28-billion railway project from Malolos to Clark.

In a disclosure yesterday, Megawide said it received the notification of award from the Department of Transportation (DOTr) last week.

The flagship Malolos-to-Clark Railway Project (MCRP) is part of the larger North-South Commuter Railway (NSCR) project of the DOTr.

The Megawide consortium will build and provide the civil engineering works for the 17-kilometer rail project.

Roadworks will include viaduct structure, including elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga.

Megawide chairman and CEO Edgar Saavedra said public infrastructure projects, like the MCRP, are critical in jumpstarting the economy.

“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,” he said.

The project, with an estimated cost of P28 billion - equivalent to more than half of Megawide’s current order book of P48 billion, is expected to boost the company’s construction segment revenue in the next three to four years.

“We are honored to be working with the government on the MCRP,” Saavedra said.

He said the project, once fully completed, would spur growth in Central Luzon and would 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 toward a first-world Philippines,” Saavedra said.

Megawide is behind several infrastructure projects, such as the development of the Mactan-Cebu International Airport and the Parañaque Integrated Terminal Exchange or PITX.

The company is also the construction partner for the Clark International Airport New Passenger Terminal Building.

Aside from these projects, Megawide was also granted the original proponent status to rehabilitate and redevelop the Ninoy Aquino International Airport.