Railway contracts lift EEI backlog

Yuchengco-led EEI Corp. is regaining ground in the construction sector with its project backlog rising 40 percent to P36.85 billion as of July, lifted by new contracts under the South Commuter Railway Project (SCRP).

In a stock exchange filing on Tuesday, the company said the backlog was higher than the P26.39 billion recorded a year earlier, providing stronger revenue visibility after a difficult 2024 when it incurred losses from provisions for claims related to pandemic lockdowns.

“We believe that profitability is not the only metric for responsible corporate governance, and that the measures we took in the past were necessary for the long-term future of EEI," EEI president and CEO Henry Antonio said.

"Now that we have momentum back in obtaining new projects, we are confident that we will have the full support of the workforce that we took care of during those times of uncertainty."

The company recently secured two contracts under the SCRP 07 worth a combined P1.8 billion. These cover the P1.7-billion Earthworks in Banlic, Laguna, and the P188-million Underpass Works. EEI will implement the projects with the Lotte-Gulermak-EEI Joint Venture.