Philippine Infradev awards $1.2bn EPC contract for Makati Subway Project
September 11, 2020 – Philippine Infradev’s wholly-owned unit Makati City Subway has awarded an EPC contract, worth $1.2bn, to China Construction Second Engineering Bureau for the construction of the $3.7bn Makati Subway Project.
Under the contract, the Chinese company will be responsible for the civil, mechanical, electrical and plumbing works of the Makati Subway Project, an 11km intra-city mass transport system.
The project, which comprises up to 10 stations beginning from near the intersection of Ayala Avenue and EDSA, towards Paseo de Roxas, Metropolitan Avenue, and JP. Rizal Avenue.
It is expected to contribute to the government’s aggressive infrastructure programme, reported Manilastandard.net.
Expected to accommodate up to 700,000 passengers per day aboard six-car trains, the project will interconnect the Metro Rail Transit Line 3, the proposed Metro Manila Mega Subway and the Pasig River ferry.
The project, which is planned to be commissioned by 2025, secured notice to proceed under the public-private partnership deal with the Makati government in February 2020, according to the news agency.
Additionally, Philippine Infradev secured approval from shareholders to increase the project’s capital from PHP1.5bn ($30.8m) to PHP10.5bn ($215.8m).
Earlier this year, Philippine Infradev has reportedly signed an investment agreement with HK Binjiang.
In August this year, the Philippines’ Department of Transportation (DOTr) has signed two civil works contracts, worth around PHP38bn ($728m) in total, for the $6.1bn Malolos–Clark Railway Project.
Backed by $1.3bn loan from the Asian Development Bank (ADB), the project involves the construction of 53.1km-long railway line connecting Malolos to Clark economic zone and Clark International Airport (CIA) in central Luzon, Philippines. It forms part of the 163km North-South Commuter Railway Project.