DMCI Signs PhP4.4B New Projects
Makati—(PHStocks)—D.M. Consunji Inc. (DMCI) (PSE: DMC), one of the leading construction companies in the Philippines, secured PhP4.4 billion worth of new contracts during the first six months of 2016, bringing its total order book to PhP27.9 billion.
Among its newly-signed projects are the Spectrum BPO Building, City Gate of Ayala Land, a 50ML water reservoir in Quezon City and a 2X23MW gas turbine plant in Batangas.
Meanwhile, major ongoing projects include Metro Manila Skyway Stage 3, civil works for LRT Line 2 East and several high-rise buildings.
DMCI booked a 19 percent increase in net earnings during the first half of the year, from PhP333 million to PhP397 million as cost overruns for a power plant project were fully recognized in 2015.
The company anticipates more construction projects to come from the public sector, following plans of the national government to hike infrastructure spending to up to 6 percent of the gross domestic product.
“We believe that DMCI is well-positioned to assist in the infrastructure renewal plan of the Duterte administration because of our track record in implementing complex and large-scale projects,” said DMCI President Jorge A. Consunji.
Some of the key infrastructure projects completed by DMCI are the Tarlac-Pangasinan-La Union Toll Expressway, LRT Line 1 North Extension Project (Joint Venture with First Balfour, Inc.), South Metro Manila Skyway Project (Stage 2), R10 to Tayuman Rail Line, Carmen and Magat Bridges, among others.
