DMCI unit gets P4.4B worth of contracts
By: Doris Dumlao-Abadilla - Reporter / @philbizwatcher
Posted on March 23, 2017
THE CONSTRUCTION arm of DMCI Holdings has bagged P4.4 billion worth of new contracts in the first six months of the year, expanding the order book that will sustain earnings growth in the years ahead.
The new deals hatched by DM Consunji Inc. (DMCI), a leading construction and engineering firm in the country, brought its order book to P27.9 billion.
DMCI was enlisted to construct Spectrum BPO Building, Ayala Land’s mixed-use project City Gate in Makati, a 50-megaliter water reservoir in Quezon City and two units of 23-megawatt gas turbine plant in Batangas.
The company anticipates more construction projects to come from the public sector given the Duterte administration’s commit to increase infrastructure spending up to 7 percent of the gross domestic product.
“We believe DMCI is well-positioned to assist in the infrastructure renewal plan of the Duterte administration because of our track record in implementing complex and large-scale projects,” said DMCI president Jorge Consunji.
Major ongoing projects of DMCI include Metro Manila Skyway Stage 3, civil works for LRT Line 2 East and several high-rise buildings.
Some of the key infrastructure projects completed by DMCI are the Tarlac-Pangasinan-La Union Toll Expressway, LRT Line 1 North Extension Project (Joint Venture with First Balfour, Inc.), South Metro Manila Skyway Project (Stage 2), R10 to Tayuman Rail Line, Carmen and Magat Bridges.
DMCI booked a 19-percent growth in net earnings in the first half to P397 million.
Leveraging on its track record in construction, DMCI Holdings has diversified into real estate development, water utility, nickel mining, coal mining and power generation.
