MANILA - First Philippine Holdings Corp said Monday a joint venture that includes its construction subsidiary, First Balfour, was awarded a P22.6 billion design and build contract for an expressway in Cebu.
The Cebu Link Joint Venture of First Balfour, Spain's Acciona Construccion SA and DM Consunji Inc secured the notice of award for the 8.5-kilometer the Cebu-Cordova Link Expressway (CCLEX), FPH said in a statement.
The CCLEX will connect Cebu City to Cordova municipality on Mactan island, FPH told the stock exchange.
Metro Pacific Tollways Corp's Cebu Cordova Link Expressway Corp issued the notice of award to Cebu Link Joint Venture, FPH said.
Shares of FPH were up 0.49 percent to P61.40 in early trading on Monday.