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DMCI, Nishimatsu awarded P21-B subway project

Business

DMCI, Nishimatsu awarded P21-B subway project

By James A. Loyola

Premier contractor D.M. Consunji, Inc. (DMCI) and Nishimatsu Construction Co. Ltd. of Japan are all set to participate in Manila's first subway project.

In a disclosure to the Philippine Stock Exchange, DMCI said the joint venture received the Notice of Award for the P21.21 billion Quezon Avenue and East Avenue underground stations and tunnels for the Metro Manila Subway Project (Contract Package 102).

DM Consunji Inc. President and CEO Jorge A. Consunji

“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 P17.37 billion, $31.77 million, EUR5.49 million and JPY4.39 billion, roughly equivalent to P21.21 billion as of November 11, 2021 exchange rates and exclusive of value added tax.

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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 P43.7 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.

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