2016 NEWS »DMCI books nearly P3-B projects in Q1

DMCI books nearly P3-B projects in Q1

Posted on May 17, 2016

 

D.M. CONSUNJI, Inc. (DMCI) , the wholly-owned construction subsidiary of DMCI Holdings, Inc., has bagged P2.9 billion worth of projects in the first quarter of the year.

The new projects brought the construction firm’s total order book to P30 billion, DMCI said in a statement on Monday. 

The company’s newly-signed projects include Ayala Land, Inc.’s mixed-use development City Gate in Makati central business district; a 50 million liter water reservoir in Quezon City; and two 23 megawatt (MW) gas turbine plants in Batangas. 

DMCI is currently constructing the P26.5 billion Metro Manila Skyway Stage 3, civil works for the Light Rail Transit (LRT) Line 2 East (Masinag) Extension, and Ateneo de Manila University’s Areté museum in Quezon City. 

Expected to be completed within the year are the Ninoy Aquino International Airport (NAIA) Expressway Package 2A, which stretches from Macapagal Avenue to Terminals 1 and 2, and NAIA Expressway Package 2B from Manila International Airport (MIA) Road to Terminal 3. NAIA Expressway Package 2A is targeted for completion by June, while Package 2B is scheduled for completion before year-end.

“We look forward to the infrastructure program of the new administration. A lot needs to be done to enhance the mass transport system, road network, flood control system and tourism infrastructure of our country,” DMCI President Jorge A. Consunji was quoted as saying in a statement. 

“Hopefully, more public-private partnerships will be awarded and implemented within the next six years,” he added.

DMCI Holdings’ first quarter profit fell 0.7% to P3.03 billion, which included a one-time gain of P111 million from the partial sale of its 10% stake in Subic Water and Sewerage Company last March. 

DMCI reported a 3% increase in net earnings to P197 million in first three months of the year, on declining construction costs. 

Shares in DMCI Holdings added 20 centavos or 1.58% to close at P12.82 apiece on Monday. --Tanya Mae B. Umali