Megawide boosts book order to P66 billion

ABS-CBN News

Posted at Jul 13 2021 04:24 PM

MANILA - Megawide secured P1.24 billion worth of new contracts in the first quarter, the company disclosed on Tuesday, raising its book record to P66.1 billion at the end of March.

The construction firm and infrastructure operator said it secured contracts to build housing units in Cebu and Batangas, as well as a mall in Paranaque City.

The company said it is also keen on participating in the government’s railway projects amid expectations that private sector construction demand will remain soft due to the economic slowdown. 

“The Japan International Cooperation Agency (JICA)-funded Metro Manila Subway Project and the Asian Development Bank (ADB)-financed North-South Commuter Railway (NSCR) South Line projects are among those being eyed by Megawide for its infrastructure push,” the company said. 

Edgar Saavedra, Megawide chairman and CEO said he sees the company boosting its technical know-how with its participation in the railway projects. 

“Our current exposure in the Malolos-Clark Railway Project allows us to gain experience in elevated railway systems civil works. If we can secure packages in both the NSCR South Line and the Subway projects, this will provide us building blocks to develop our competencies in at-grade and underground rail developments, respectively,” Saavedra said. 

Megawide suffered a setback last year after the government revoked its original proponent status for the rehabilitation of the Ninoy Aquino International Airport. 

The company has said that it may bid for the NAIA rehab again, but will likely wait for a new administration to come in before doing this. 

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