D.M. CONSUNJI, Inc. (DMCI) secured P10.6 billion worth of new contracts in the first nine months of 2018, as it was engaged mostly by private firms for building projects.
The construction arm of diversified engineering conglomerate DMCI Holdings, Inc. said the newly-signed projects pushed its order books eight percent higher to P28.5 billion, compared to the same period a year ago.
Its newly-signed projects include Ortigas and Company’s residential condominium called Connor worth P1.1 billion, STRC Apartment Ridge of ST 6747 Resources Corp. worth P1.3 billion, and the DLS College of St. Benilde Academic Sports and Dormitory Buildings, among others.
To note, ST 6747 Resources Corp. is the joint venture firm between the SM Group and tycoon George S.K. Ty’s Federal Land, Inc. for the development of a residential condominium in Makati City, on a property considered to be the last parcel of undeveloped land in the business district.
D.M. Consunji has also been tapped for the Metro Manila Skyway Stage 3 Nagtahan Rampway worth P1 billion.
The company’s major ongoing projects include the Cavite-Laguna Expressway project of MPCALA Holdings, Inc., Prima Infra Dev. Corp.’s Bued Viaduct and Roadway, LRT Line 2 East Stations under the Department of Transportation, Ortigas & Company’s Maven at Capitol Commons, and Anchor Land Holdings, Inc.’s Anchor Grandsuites.
“Right now our order book is skewed toward private sector-led construction projects but we expect more big-ticket projects under the Build, Build, Build program to come on-stream within the next few months,” D.M. Consunji President and Chief Executive Officer Jorge A. Consunji said in a statement.
The company is currently bidding for the first package of the North-South Commuter Railway (NSCR), which seeks to connect Tutuban, Manila to Malolos, Bulacan. The project will have a capacity of 100,000 passenger per hour, reducing travel time from Tutuban to Malolos to about 35 minutes from two hours before.
The project will be partially funded by Japan’s official development assistance loan signed in 2015. The government targets to start the project by next year.
“2019 will be a busier year for public construction, and we are very eager to participate in this infrastructure modernization program of the government,” Mr. Consunji said.
Earnings of D.M. Consunji rose by 19% to P343 million in the third quarter of 2018, pushing its nine-month profit 21% higher to P1.1 billion. — Arra B. Francia
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