Photo credit: Jacque Manabat Twitter Page
Premier contractor D.M. Consunji, Inc. (DMCI) is set to build its first subway project after its joint venture with Nishimatsu Construction Co., Ltd.(NCC) of Japan received the Notice of Award for the Quezon Avenue and East Avenue underground stations and tunnels for the Metro Manila Subway Project (Contract Package 102).
“We are very excited to be part of this historic project. Once completed, the subway will help address urban mobility issues in our nation’s capital,” said DMCI President and CEO Jorge A. Consunji.
To be funded through a loan from the Japan International Cooperation Agency (JICA), the multi-currency denominated infrastructure project is valued at PHP17.37 billion, USD 31.77 million, EUR5.49 million and JPY4.39 billion, roughly equivalent to PHP 21.21 billion as of November 11, 2021 exchange rates and exclusive of value added tax.
Scope of work for Contract Package 102 includes design (to the extent required), supply, installation, construction, testing, commissioning and training. The project will take around 67 months to complete.
The contract is still subject to concurrence by JICA and compliance with the documentary requirements as provided under the April 2012 guidelines for procurement under Japanese official development assistance loans.
As of June 30, 2022, DMCI had an order book of PHP43.7 billion, which was mostly from other joint venture projects and building contracts.
Founded in 1874, Nishimatsu Construction Co., Ltd. is the leading tunnel contractor in Japan, having worked on more than 1,000 tunnels. Its portfolio includes Singapore's National Library Board Building, London's Channel Tunnel Rail Link, Hong Kong's Lap Kok Airport.
Article courtesy of the Philippine Stock Exchange
