Megawide buys into Diliman-Espana railway project

www.megawide.com.ph photo

Construction and infrastructure group Megawide Construction Corp. has acquired a controlling stake in the PNR East-West Railway project (EWRP), which involves putting up a 9.77-kilometer railway line from Diliman, Quezon City along the corridor of Quezon Avenue up to Espana Boulevard in Manila.

In a disclosure to the Philippine Stock Exchange on Wednesday, A.Brown Co. Inc. said the consortium of East-West Rail Transit Corp. (EWRTC) – which it is part of – had agreed to give Megawide the right to participate in this unsolicited project as an additional consortium member with the right to acquire up to 60 percent of the special purpose vehicle for this railway project.

As such, the EWRP consortium will now be composed of EWRTC, Alloy MTD and Megawide, the disclosure said.

In a separate statement, Megawide said its entry into the project was a testament to its deep experience as an engineering, procurement, and construction (EPC) contractor.

Megawide president Edgar Saavedra said his company’s participation in EWRP was a continuance of its vision for nation building. “Megawide supports the Duterte administration in its push for reliable, sustainable transport infrastructure. A solution is needed for Metro Manila’s worsening traffic congestion and we believe efficient mass transportation is the answer,” he said.

“Engineering and construction are vital components in any infrastructure project; in fact, they are the basis of Megawide’s capability in infrastructure development. This will guide our participation and vision for EWRP,” he added.

EWRP, which will have 11 stations and provide interconnecting facilities with neighboring rail systems, aims to alleviate traffic congestion and encourage more productive activities along this route.

Other Philippine infrastructure projects undertaken by Megawide under the government’s public private partnership (PPP) framework are the following:
– School Infrastructure Project (PSIP) Phases 1 and 2, which entailed the construction of almost 10,000 classrooms across Luzon;
– Mactan-Cebu International Airport (MCIA), which was awarded by the Center for Aviation as Asia Pacific Regional Airport of 2016; and,
– Southwest Integrated Transport System (SWITS), the country’s first integrated land transport hub which will have a connection to LRT Line 1.