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Manila Bulletin devider Business devider The Stock Market devider EEI signs MOU with precast supplier

EEI signs MOU with precast supplier

Published Jun 13, 2024 07:38 am

Construction giant EEI Corporation (EEI) has signed a Memorandum of Understanding (MoU) with Concrete Stone Corp. (CSC) for its precast concrete requirements to be utilized for multiple mega infrastructure projects. 

In a disclosure to the Philippine Stock Exchange (PSE), EEI said that with the MoU, CSC will be providing EEI's precast requirements for Luzon, Visayas, and Mindanao.

EEI-CSC MoU signing.jpg
(From left) EEI Vice President for Infrastructure Roman M. Lapuz, EEI Senior Vice President for Supply Chain Management, Logistics, Security, and Facilities Department Earl Jason R. Vistro, Concrete Stone Corporation (CSC) President Alfredo L. Comendador Jr., and Industry Holdings and Development Corporation (IHDC) Chief Financial Officer Jan Michael Lim. 

“We are excited with the potential synergies between EEI and CSC,” said EEI President and CEO Henry D. Antonio. 

He added that “we look forward to a strong collaboration that bolsters our commitment to deliver quality and remarkable infrastructure projects that shape the Philippine landscape and contribute to the country’s connectivity, economic growth and nation-building.”

“We are honored to partner with EEI Corporation and serve their precast requirements,” said Concrete Stone Corporation President Alfredo L. Comendador Jr. 

He noted that “thanks to the size of our precast facilities nationwide, we can support EEI's extensive precast requirements for vital infrastructure projects across the Philippines.”

EEI is recognized as one of the leading construction companies in the Philippines with multiple mega infrastructure projects in the pipeline including big-ticket railway projects. 

The 93-year-old company has a broad range of construction and engineering services, with expertise in the construction of infrastructure, buildings, and industrial and electromechanical facilities. 

CSC is a corporation engaged in the manufacture and supply of construction solution materials. Its products include aggregates, precast, cement and asphalt. 

The firm aims to make a positive impact through a sustainable and socio-economic business approach to be able to cater to the growing market of construction materials. 

Industry Holdings and Development Corporation (IHDC), the parent company of CSC, also has a 14.35 percent stake in EEI which it acquired in May 2023. 

IHDC is owned by the Chua Group, headed by Francis Chua, a successful construction engineer with established business interests in construction supply including pre-cast concrete structures, cement and aggregates, as well as investments in the logistics and real estate sectors.

“IHDC’s entry as a strategic partner is deemed beneficial to EEI’s growth plans and restructuring efforts,” said EEI’s former parent company House of Investments noting that it will have a partner that will improve the performance of EEI.

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