DMCI bags airport rehab deal

THE GOVERNMENT has awarded the contract to rehabilitate Ninoy Aquino International Airport Terminal 1 (NAIA-1) to DMCI Holdings, Inc., the Transport chief told reporters on Monday.

“We have awarded the rehabilitation of NAIA-1 to DMCI,” Transportation and Communications Secretary Joseph Emilio A. Abaya said at the sidelines of the launch of the Philippine National Railways’ service between Tutuban station in Manila and Sta. Rosa, Laguna.

The infrastructure conglomerate submitted the best bid for the P1.64-billion contract, Mr. Abaya said, although he could not readily provide bid details. The Consunji-led holding firm bested two other bidders -- Hillmarc’s Construction Corp. and EEI Corp. -- during the auction held last Dec. 20, he added.

The project involves architectural, structural, mechanical and electrical works, he explained.

“Once we will have issued the notice to proceed, they (DMCI) can start early next year, maybe [in the] first week of January,” Mr. Abaya said.

He said the project could be completed by December next year.

“We are really behind, but that is our target,” Mr. Abaya said.

DMCI grew net income by 87.4% to P18.74 billion as of September from P10 billion in the same nine months last year. Revenues rose 5.24% to P41.15 billion from P39.1 billion, while cost of sales edged up to P26.25 billion from P26.12 billion.

Its shares gained 95 centavos or 1.72% to close P56.30 apiece on Monday from P55.35 each on Friday last week. Philippine financial markets are closed on Tuesday and Wednesday for the Christmas holidays. -- LCSM

 
source:  Businessworld