DMCI bags P9-B infrastructure projects since Jan.

“We started the year strong with these newly awarded contracts. Hopefully, this will be the start of the aggressive rollout of mega-infrastructure projects across the country. We really need the additional roads and facilities,” D.M. Consunji President Jorge A. Consunji said in a statement. 

Earlier this month, D.M. Consunji secured a P7.2-billion contract from Metro Pacific Investments Corp.’s MPCALA Holdings, Inc. to build the 18-kilometer Laguna portion of the Cavite-Laguna Expressway project. Australia’s Leighton Holdings will build the Cavite portion of the project.“Yung sa atin we expect mga 30 months (For our part, we expect to finish in around 30 months), barring any right of way. But I think securing the right of way will be easy, so two and a half years starting this month,” Mr. Consunji said in a briefing last week, when asked when the project is expected to be completed. In January, Private Infra Development Corp. awarded D.M. Consunji a P1.3-billion contract for portions of the Tarlac-Pangasinan-La Union Expressway (TPLEx), namely the Bued Viaduct at Section 3B-3 and the roadway construction of Section 3B-4 Bued to Rosario, La Union.

The TPLEx project, which spans 1.1 kilometers, is expected to be finished in a year and a half, said Mr. Consunji. 

In addition, the National Power Corporation awarded three projects to D.M. Consunji this year. This includes the remedial work of San Roque MPP Spillway Plunge Pool Area in Pangasinan; supply, construction/installation, testing and commissioning of Mansalay Switching Station and expansion of Bansud and San Jose Substation Projects in Oriental Mindoro; and rehabilitation of the Calapan-Bansud 69KV transmission line project, also in Oriental Mindoro.Maynilad Water Services also tapped the contractor for three projects, namely, pipe replacement in Parañaque City; construction of a reservoir and pump station in Imus, Cavite; and the Putatan reverse osmosis facility in Muntinlupa City. DMCI Holdings maintains a 25% stake in Maynilad, the water concessionaire for the West Zone in Metro Manila.

With the infrastructure projects in place, Mr. Consunji said the company expects to raise P15 billion in revenues this year. 

D.M. Consunji saw a strong rebound last year, growing its net profit by half to P938 million.

Parent firm DMCI Holdings reported a core net income of P12.1 billion last year, down 1.63% from P12.3 billion in 2015. 

The holding firm of the Consunji family said consolidated net profit fell 5% to P12.2 billion from P12.8 billion after taking into account the one-time gain of P530 million for the sale of its 25.11% share in PIDC in 2015 and a non-recurring item of P111 million on the partial sale of Subic Water in 2016.

Apart from construction, DMCI Holdings also has interests in power generation, water utility, infrastructure development, real estate, nickel and coal mining. Shares in DMCI Holdings shed 20 centavos or 1.7% to close at P11.56 on Wednesday. -- Arra B. Francia