EEI secures CALAX section, Megaworld hotel contracts
LISTED construction firm EEI Corp. said it has secured contracts to build a section of the Cavite-Laguna Expressway (CALAX) and Megaworld Corp.鈥檚 Arcovia Hotel in Pasig City, expanding its project pipeline for the quarter.
In a stock exchange disclosure on Monday, EEI said MPCALA Holdings, Inc., a unit of Metro Pacific Tollways Corp., has selected the company for the construction of the P2.7-billion subsection 1 of CALAX in Kawit, Cavite.
鈥淭hese new project wins mark a significant turnaround for EEI, reflecting our resilience, competitiveness in the industry, and renewed growth momentum,鈥 said EEI Senior Vice-President and Head of Commercial Operations Anna Payawal-Figuera.
The project covers the construction of the roadway, drainage systems, and related structures, EEI said, noting that once completed, the section is expected to improve connectivity between Cavite and Laguna by easing traffic congestion.
鈥淢ore than expanding our portfolio, this infrastructure and building projects reaffirm our commitment to nation-building by helping drive economic growth, enabling connectivity, and delivering facilities that uplift the lives of our people and our communities,鈥 Ms. Payawal-Figuera said.
EEI has also secured the contract for the construction of Megaworld鈥檚 Arcovia Hotel in Pasig City, which covers civil, structural, and architectural finishing, including painting and waterproofing works.
These newly secured contracts bring the company鈥檚 project pipeline to P19.1 billion for the quarter, EEI said, adding that its total backlog, or unworked portion of existing contracts, reached P39.24 billion as of end-August.
In July, the company announced that it was preparing to build the first phase of the P15.75-billion Philippine International Exhibition Center (PIEC) in Pasay.
The PIEC, planned for construction in Pasay Harbor City along Manila Bay, will have a gross exhibition area of 269,000 square meters and is projected to be the largest exhibition and convention center in Southeast Asia.
At the stock exchange on Monday, shares in the company closed unchanged at P2.75 apiece. 鈥 Ashley Erika O. Jose
