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D.M. Consunji boosts order book by P14B

/ 05:20 AM May 22, 2019

The construction and engineering arm of DMCI Holdings has boosted its order book by P14 billion following a brand-new deal to build a commuter railway from Tutuban, Manila, to Malolos, Bulacan—the single biggest infrastructure project it bagged so far this year.

D.M. Consunji also expects to employ 5,000 workers for this North-South Commuter Railway (NCSR) phase 1, which will shorten travel time between Malolos and Tutuban to just 35 minutes from one hour and 30 minutes at present.

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The construction firm has earmarked P2 billion in capital outlays for the next two years to support its railway construction activities, the bulk of which will be used to acquire construction equipment.

“Building mass transport systems and high-impact infrastructure is part of our DNA. We are very excited and grateful to be part of this game-changing project for our country,” said D.M. Consunji president and chief executive officer Jorge Consunji.

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The project, which marks D.M. Consunji’s first partnership with Taisei Corp. of Japan, has a total contract value of around P54 billion. This project  will be done through an unincorporated joint venture with Taisei that recently bagged the project from the Department of Transportation.

D.M. Consunji’s share of revenues from this project is estimated at P14 billion, which is expected to be recognized as revenues over the next 30 months of the contract life.

The company was mandated to construct around 22 kilometers of elevated viaduct structures, six stations and a 14-hectare depot, which will be located in Valenzuela.

Including electromechanical and other components, NSCR phase 1 will be completed in 42 months. The railway will use the existing alignment of the Philippine National Railway and is expected to serve 300,000 passengers daily.  The trains will have the maximum operating speed of 120 kilometers per hour.

Isidro Consunji, president of parent conglomerate DMCI Holdings, said Transportation Secretary Arthur Tugade had assured the group that 90 percent of the right-of-way in the segment awarded to Taisei and DM Consunji had already been cleared.

“Government is aware of the issues on completion and is doing something positive,” he told reporters after DMCI Holdings’ stockholders meeting.

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TAGS: DMCI Holdings, infrastructure project, order book
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