The joint venture of Megawide Construction Corp. and Korean firms Hyundai Engineering & Construction Co. Ltd. and Dong-ah Geological Engineering Co. Ltd. bagged the P28-billion civil works contract for the Malolos-Clark Railway Project (MCRP) package 1.
The consortium received the notice of award last September 18.
Under the contract, the consortium will build and do the civil engineering works for approximately 17 kilometers of viaduct structure, including the elevated station buildings in Calumpit, Bulacan and Apalit, Pampanga.
Edgar Saavedra, Megawide chairman and chief executive officer, said the project’s estimated cost is equivalent to more than half of the company’s current order book of P48 billion.
Saavedra said this will boost the company’s construction segment revenue in the next three to four years during the development phase.
In addition, considering that precast materials and construction ancillary services will be major components for these kinds of development, Megawide said the project will also benefit its technologically advanced business units and support expansion plans in this area.
“This project, once totally completed, will spur growth in Central Luzon…it will also increase connectivity and unlock exciting commercial opportunities between Metro Manila and Clark,” Saavedra said.
MCRP is part of the larger North-South Commuter Railway (NSCR) project of the Department of Transportation.
NSCR is composed of three railway projects: Philippine National Railway (PNR) Clark phase 1, a 38-km. rail line that will connect Tutuban, Manila to Malolos, Bulacan; PNR Clark phase 2; and PNR Calamba, a 56-km. railway from Solis, Manila to Calamba, Laguna.
PNR Clark phase 2 is a 53-km. rail line segment which will connect Malolos to Clark International Airport and will feature the country’s first airport rail express. It is expected to start partial operation by 2022, cutting travel time to just 30 to 35 minutes, from the original 1 hour and 30 minutes.
Megawide has been a private partner of the government for flagship infrastructure projects such as the development of the Mactan-Cebu International Airport, the Parañaque Integrated Terminal Exchange and for the construction of Clark airport’s new passenger terminal building.