now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
Asia Connect
Three major work contracts signed for Philippine rail project
Malolos-Clark connection an important part of government's Build, Build, Build infrastructure programme
Michael Marray 14 Oct 2020

A signing ceremony has been held on all three major works contracts for the Malolos-Clark Railway project in the Philippines. The project is being funded by the Asian Development Bank (ADB), which said that, following the October 8 ceremony, construction is expected to begin soon. The ceremony was hosted by the Philippines’ Department of Transportation, which has so far awarded five civil works contracts for the project totalling US$2.5 billion.

The first contract package of the railway line – covering the construction of about 17 kilometres of elevated rail viaduct, seven bridges, and two railway stations – was awarded to the joint venture of Hyundai Engineering & Construction Co., Ltd. and Dong-ah Geological Engineering Company Ltd., both based in the Republic of Korea, and the Philippines’ Megawide Construction Corporation.

Spain’s Acciona Construction Philippines and Daelim Industrial won the second contract package, covering the building and civil engineering works for about 16 kilometres of viaducts and one railway station. The third contract package, for the building and civil engineering works for 12 kilometres of viaducts and two railway stations, was awarded to Italian-Thai Development Public Company Limited.

The other two contract packages were awarded in August to a joint venture of Acciona Construction Philippines and EEI Corporation, and the Republic of Korea’s POSCO Engineering and Construction. A sixth contract for the construction of the Blumentritt station of the railway line will undergo rebidding.

The Japan International Cooperation Agency will provide up to US$2 billion in additional funding for the rolling stock and rail systems.

The project is an important part of the Philippine government’s Build, Build, Build infrastructure programme, and will provide an environmentally friendly rail connection between the northern provinces and Metro Manila.

“The signing of these contracts means the Malolos-Clark Railway Project construction will now go on full speed, helping the country’s economic revival over the next 12 to 24 months,” says ADB director general for Southeast Asia Ramesh Subramaniam. Completion is expected by 2025.

The journey between Malolos in Bulacan province and Clark in Pampanga province is expected to take one hour, with a maximum rail speed of up to 160 kilometres per hour, and boost economic activity in regional growth centres such as Clark.

Conversation
Jennifer Lee
Jennifer Lee
managing director, head of large corporate, institutional banking group
DBS Hong Kong
- JOINED THE EVENT -
Exclusive roundtable
Unlocking the potential of sustainable supply chains
View Highlights
Conversation
Jugeshinder Singh
Jugeshinder Singh
Group CFO
Adani Group
- JOINED THE EVENT -
18th Asia Bond Markets Summit - Europe Edition
Taking advantage of the great bond re-set
View Highlights