Megawide targets subway project next
Megawide and its joint venture partners from Japan, Tokyu Construction and Tobishima Corporation, signed Contract Package 104 or CP-104
Megawide Construction Corp., as it takes on a high-growth and scalable path, is eyeing to secure contracts for more segments of the Metro Manila Subway Project, the country’s first underground train line.
“We are still aiming for one more project to be bidded out by next year. The CP 105 and the others; those are packages (that normally includes the construction of) a station and a tunnel line,” Megawide chairperson, chief executive officer, and president Edgar B. Saavedra told reporters in an interview last week.
Megawide and its joint venture partners from Japan, Tokyu Construction and Tobishima Corporation, signed Contract Package 104 or CP-104 of the Metro Manila Subway Project in May.
The package includes the construction of underground stations in Ortigas North and South as well as the tunnels connecting these two locations. It has a contract value of P13.26 billion or JYP 11.23 billion, which together will have an aggregate estimated value of P17.75 billion.
More stations up
Saavedra said he expects the DoTr to award Megawide and its JV partners the CP-105 this year, which will cover the construction of subway stations connecting Shaw Boulevard in Mandaluyong City to Bonifacio Global City in Taguig.
“After that, we are still looking to bid for about 1 or 2 more packages — the 108 and 109,” he said.
Apart from its involvement in the 36-kilometer subway project that will run from Mindanao Avenue in Quezon City to the Ninoy Aquino International Airport Terminal 3 in Pasay, Megawide and its joint venture Korean partners, Hyundai Engineering & Construction Co., Ltd. and Dong-ah Geological Engineering Company Ltd., were also awarded the contract for the Package 1 of the Malolos-Clark Railway Project in September 2020.
The P28-billion project involves the construction of approximately 17 kilometers of viaduct structure, including elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga.
Despite divesting its stakes at the Mactan-Cebu International Airport, Megawide said that it will continue to explore several transport-centric development locations to complement its hub-and-spoke model with the Paranaque Integrated Terminal Exchange and engage in its brand of urban renewal through the Carbon Market Redevelopment.
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