South Korean Companies Daelim Industrial and Hyundai Engineering and Construction (Hyundai E&C) announced that they acquired deals to build a section of the Malolos-Clark High-Speed Railway Project (MRCP) in the Philippines.
Daelim Industrial announced that it signed a contract with the Philippine Ministry of Transportation to build the second section of the Malolos-Clark Railway Project (MCRP). The company would execute the project together with a Spanish construction company, Acciona. The total construction project costs 725.2 billion won ($616.97 million), and Daelim Industrial would stake 50 percent at 362.50 billion won.
The MRCP comprises a distance of 163 kilometers that extends from Northern Clark to Southern Calamba via the capital of Manila. MCRP would become the first high-speed railway linking Clark and Malolos through Northern Manila. The total length of the railway consists of 51.2 kilometers partitioned into five sections.
Daelim would construct the second railway section, which includes a 15.8 kilometers overpass and a station. The construction time would take about 48 months from the starting date of construction.
The finished railway would reduce the travel time between Manila and Clark to less than an hour. The railway would also alleviate traffic congestion in metropolitan areas and lessen harmful emissions brought by numerous vehicles.
Daelim established its position as a company equipped with technological and performance expertise upon entering the Philippine civil engineering infrastructure market. The company accomplished similar projects both locally and internationally, including Vietnam’s Hanoi Light Rail and Honam High-Speed Railway. The company also currently builds the world’s longest suspension bridge located in Turkey, the Chanakale Bridge.
The GTX-A route, carrying a high-speed train service within Daesimdo, also proves Daelim’s expertise in the civil engineering field.
Meanwhile, Hyundai Engineering & Construction stated that it also acquired a railway project deal with the Philippine Transportation Ministry worth $330 million on Friday. Hyundai E&C would construct two station buildings with a 17-kilometer railway on elevated bridges as part of the MCRP. The construction would take about four to five years.
The railway project denotes the first time for Hyundai E&C to acquire a construction project in the Philippines since building the ADB headquarters in 1986.
Hyundai hopes that winning this deal with the Philippines would help them acquire other southeast Asian countries’ railway projects.
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