Megawide closes P2-B classrooms deal
Construction firm Megawide Construction Corp. has closed a P2.25-billion deal to build classrooms for the Department of Education (DepEd) within the next 14 months.
In a disclosure to the Philippine Stock Exchange on Friday, Megawide said it had signed the build-transfer agreements for the government’s school infrastructure phase 2 project for Regions I, III and IV under the public-private partnership (PPP) program.
This package involves 985 schools with a total of 2,440 one-story and two-story classrooms, including furniture, fixtures and toilets, said Megawide corporate information officer Louie Ferrer, who is also Megawide’s official signatory for the project with DepEd.
“Few projects have captured our hearts at Megawide and this PPP phase 2 project is one we intend to complete with the best quality possible because we know we are making a difference in the lives of thousands of school children who are the future of our country,” Ferrer said.
Megawide expects to complete the project in 14 months and bill DepEd in phases based on percentage completion.
The publicly listed construction firm is among the two bidders for the DepEd’s PPP for School Infrastructure Project Phase II. The other winning bidder is the the consortium of BSP and Company Inc. and Vicente Lao Construction.
The package awarded to BSP and Vicente Lao Construction covers Regions X and Caraga for a total of 1,930 classrooms, based on a PPP Center advisory.
As a result of the construction activities in the identified areas, each construction firm estimates to generate some 900 new jobs, the PPP Center said.
Ferrer said: “This venture actually gives opportunity to hundreds of small- and mid-size construction companies and workers. Imagine thousands of jobs being offered to Filipinos from all over the country. In addition, we work with a lot of local hardware shops, construction material suppliers, paint manufacturers who come together for these classrooms.” Doris C. Dumlao
