Cavite-Laguna toll road lifts DMCI’s 2017 construction contracts to P16b
DMCI Holdings Inc. said its construction unit bagged P16 billion worth of new infrastructure, buildings and power plant projects in 2017, or double the P8.2-billion contracts in booked in 2016.
Construction firm DM Consunji Inc. said with the new contracts, it ended 2017 with an order book of P25.4 billion, a 26-percent improvement from P20 billion in 2016.
Among the company’s newly-signed projects are Cavite-Laguna Expressway of MPCala Holdings, a petrochemical plant of JG Summit, Maven of Ortigas & Co., Anchor Grandsuites of Anchor Land Holdings, Bued Viaduct and Roadway of Private Infra Development Corp. and a 105-megawatt conventional power plant of Sarangani Energy Corp.
The company said ongoing projects include Metro Manila Skyway Stage 3 of Citra Central Expressway Corp., Six Senses Resort (Phase 2) of Federal Land, LRT Line 2 Masinag Station of the Department of Transportation, The Imperium and The Royalton of Ortigas & Co. and RCity Gate of Ayala Land Inc., Radiance Manila Bay (North and South) of Robinson Land Corp.
The construction firm also completed two major infrastructure projects in 2017, including Naia Expressway and The Runway connecting Naia Terminal 3 to Resorts World Manila.
DM Consunji said it recorded a full-year net income of nearly P1.3 billion in 2017, up 56 percent from P824 million in 2016.
“2017 was a good year for us. We were able to keep a tight rein on our operating costs. The favorable settlement of pending claims and earlier-than-expected completion of some minor projects also contributed to our strong growth,” said DM Consunji president and chief executive Jorge Consunji.
DMCI said it expected the construction business to sustain its growth momentum in 2018, as the government rolled out massive infrastructure projects under the ‘Build, Build, Build’ program.
Consunji said while prices of construction materials like cement and steel were expected to go up, the company was able to hedge the prices of most construction materials required for the projects.
“Our construction business should do well despite prices going up,” Consunji said.