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EEI Partners with Saudi Construction Firm

by Philippine Resources - May 04, 2021

EEI Corp., the Yuchengco Group's construction arm, announced Monday that it had signed new overseas contracts worth P17.38 billion with Saudi Arabia's Al Rushaid Petroleum Investment Corp.

The sum was almost three times the value of outstanding contracts worth P6.2 billion in 2020, according to Al Rushaid Construction Company Ltd., a joint venture between EEI and APIC.

On top of six pending ventures in Saudi Arabia, EEI president and CEO Roberto Jose Castillo said the JV firm landed 13 new contracts overseas.

“We are confident because our healthy backlog will be good for at least two years’ worth of work. We are bidding for bigger projects both domestically and overseas. We have our health and safety programs in place for our workers, and we are utilizing leading-edge digital technology to help us with remote work supervision and improve operational efficiency. This is the kind of resilience our clients can expect from us,” he said.

The domestic projects of EEI are estimated at P43 billion and include construction, infrastructure, and electromechanical projects for the years 2021 and beyond.

Domestic construction operations began to ramp up in 2021, according to the EEI, especially for major infrastructure projects.

Malolos Clark Railway Package 4 (with participation in POSCO E&C's Package 5), Metro Manila Subway Phase 1 (with participation in POSCO E&C's Package 5), and Metro Manila Skyway Stage 2-Sucat-Alabang viaduct extension are among them.

The Seasons Residences, Light 2 Residences, iMET BPO Towers, Grand Midori Ortigas, and other projects are also being completed by the firm.

EEI's AAAA license from the Philippine Contractors Accreditation Board, according to Castillo, has given the company an edge in major infrastructure projects, especially with the government's "Build, Build, Build" scheme.

He stressed the importance of aligning with YGC's goal of being future-ready.

“EEI is in a good position to recover from the interruptions caused by the lockdowns because of our experience and expertise in the industry both locally and abroad. Projects will always come in, and we are always ready,” Castillo said.


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