EEI upbeat on new KSA contracts as domestic projects resume

 

EEI Corporation, the construction arm of the Yuchengco Group of Companies (YGC), is upbeat as new contracts from abroad, along with the ramp up of work in existing domestic projects,  are expected to provide an uplift for 2021.

Al Rushaid Construction Company, Ltd. (ARCC), a joint venture between EEI and Al Rushaid Petroleum Investment Corporation based in the Kingdom of Saudi Arabia, secured new contracts that tripled the backlog amount from PhP6.2B in 2019 to PhP17.38B in 2020. EEI’s local projects have a remaining contract value of around PhP43B pesos covering building, infrastructure and electromechanical projects, for a total of PhP60B worth of combined projects for 2021 and beyond.

EEI’s production is picking up as domestic construction operations have resumed especially at the company’s major infrastructure projects. These include Malolos Clark Railway Package 4 (a joint venture with Acciona) with participation in POSCO’s Package 5, Metro Manila Subway Phase 1, and Metro Manila Skyway Stage 2 (Sucat-Alabang viaduct expansion).  The Company is also fulfilling existing building projects such as The Seasons Residences, the Light 2 Residences, the iMET BPO Towers, the Grand Midori Ortigas, among others.

“We are confident because our healthy backlog will be good for at least two years’ worth of work. We are bidding for bigger projects both domestically and overseas. We have our health and safety programs in place for our workers, and we are utilizing leading-edge digital technology to help us with remote work supervision and improve operational efficiency. This is the kind of resilience our clients can expect from us,” said EEI President and CEO Roberto Jose L. Castillo.

Castillo added that EEI’s AAAA license from the Philippine Contractors Accreditation Board gives the Company an advantage as it participates in large infrastructure projects especially with the government’s continuing Build, Build, Build program. He also emphasized the importance of being aligned with YGC’s thrust to be future-ready.

“EEI is in a good position to recover from the interruptions caused by the lockdowns because of our experience and expertise in the industry both locally and abroad. Projects will always come in, and we are always ready,” Castillo said.