Tuesday, 31 March 2009

Manila Skyway extension project on

DMCI unit bags contract to extend Skyway to Alabang from Bicutan

THE CONSTRUCTION subsidiary of DMCI Holdings, Inc. has won the P8-billion contract to extend the Metro Manila Skyway to Alabang, Muntinlupa from Bicutan in Taguig.

In a disclosure yesterday, DMCI said it had signed an agreement with Citra Metro Manila Tollways Corp. for the design and construction of nearly seven-kilometer (km.) Stage 2 of the South Metro Manila Skyway.

Citra Metro Manila Tollways is the proponent of the elevated expressway, with the exclusive privilege of financing, designing and constructing Stage 1 and Stage 2 of the South Metro Manila Skyway.

Stage 1 of the Skyway system, which consists of a 9.5-km. elevated tollway from. Sen Gil Puyat Avenue in Makati to Bicutan, has been in operation since December 1998.

Citra Metro Manila Tollways has started the construction of the Skyway Stage 2, which will span 6.88 km.

The company, a joint venture between Indonesia’s Citra group of companies and state-led Philippine National Construction Corp., is installing pierheads on 13 advance columns under Stage 2.

Aside from the Skyway construction, DMCI also bagged a P3.48-billion contract with property company Yeeloofa Development Corp. to build the 168 Residences in Binondo, Manila over a three-year period.

168 Residences will be a 42-storey two-tower residential and commercial complex for the mid-range market. It will cover an area of more than 7,400 square meters and will have three basement levels for parking, seven levels for a shopping mall, and a recreation area at the eighth floor. The remaining floors will be occupied by residential units.

Yeeloofa Development plans to connect the building to the existing 168 Shopping Mall in Manila, making it the biggest residential and commercial project in Manila’s Chinatown.

Shares of DMCI Holdings yesterday surged by 13% or P50 centavos to close at P4.25 apiece. — K.J.R. Liu

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