EEI bags P15 billion PIEC contract

MANILA, Philippines — Construction giant EEI Corp. has bagged a P15.75-billion contract to design and build the Philippine International Exhibition Center (PIEC) on the newly reclaimed island in Manila Bay.

EEI said in a stock exchange filing that it received the notice of award from the Department of Public Works and Highways (DPWH) for the design and build of the PIEC Phase 1.

The company said that Phase 1 of the project would include the detailed engineering and design, foundation as well as architectural and structural works of the PIEC.

“The Philippine International Exhibition Center is a massive project that is poised to make a meaningful contribution to the economy. It marks a pivotal milestone for all of us in EEI, and we are honored and excited to support the government in bringing this vision to life. This project reinforces the path our company is taking – one driven by expansive opportunities, greater impact and a future shaped by shared ambition and bold progress,” EEI president and CEO Henry Antonio said.

The project is a flagship infrastructure initiative located in the 265-hectare Pasay Harbor City, a joint venture project among the local government of Pasay, Udenna Corp. of businessman Dennis Uy and Ulticon Builders.

EEI said the project, which is envisioned to serve as a premier venue for international exhibitions and conventions, would promote trade and economic development in the region.

With a gross exhibition area of 269,000 square meters, it is set to become the largest exhibition and convention center in Southeast Asia.

As one of the country’s leading construction companies, EEI has multiple mega infrastructure projects in the pipeline, including big-ticket railway projects.

Last March, EEI announced a change in ownership following a management buyout by Antonio.

The management company controlled and led by Antonio has acquired RYM Business Management’s 20 percent interest in EEl.

“With this management buyout, the executive team of EEI intends to make considerable headway in transforming the business by diversifying into real estate development and power,” the company said.