DMCI gets $51.5m rail contract in PH

Listed Philippine holding firm DM Consunji Inc (DMCI) nailed a construction contract of the Light Rail Transit Line 2 (LRT-2) system in Manila with a winning bid of $51.5 million (P2.27 billion).

The Department of Transportation and Communications (DOTC) awarded on Tuesday the contract to DMCI to undertake the construction of a 3.9-kilometer elevated guideway for the LRT-2 East Extension, stretching from the railway’s current end-station in Santolan in Pasig City to Masinag in Cainta, Rizal province.

“Railway modernization entails improving infrastructure and shifting services towards better customer-orientation. Our projects for LRT-2 will make fast, affordable, and convenient transportation accessible to residents of the densely-populated parts of Rizal, such as Antipolo and Cainta,” said DOTC Secretary Jun Abaya.

DMCI has 18 months to finish the civil works for the elevated guideway or viaduct.

After awarding the contract, DOTC together with the Light Rail Transit Authority (LRTA) accepted qualification documents of prospective bidders for the line’s O&M component under a Public-Private Partnership (PPP) scheme.

The project will give the winning concessionaire a 10- to 15-years right to operate and maintain the existing 13.8-kilometer line which traverses the cities of Manila, San Juan, Quezon City, Marikina, and Pasig, as well as the 4.2-kilometer extension to Masinag, and any future extensions of the rail system.

The groups, purchasing invitation documents for the project’s pre-qualification stage, include DMCI, San Miguel Corporation, GT Capital Holdings, Inc., Light Rail Manila Corporation, Marubeni Corporation, France’s RATP Development, and Spain’s Globalvia.

Qualified bidders for the O&M project will be announced by the DOTC’s  Bids and Awards Committee by the end of February. “Bidding itself should be held in the second half of the year,” DOTC said in its statement.

DOTC added a new proposal is now being processed by the National Economic Development Authority (NEDA) for the upgrading of LRT-2’s West Extension from its Recto station to the port area in Manila.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.