Construction company EEI Corp. said Tuesday it signed an agreement with ZL Machinery Philippines Inc. and Chinese construction machinery maker Zoomlion Heavy Industry Science & Technology Co., Ltd. (ZHIST) for its construction and re-fleeting requirements.
Under the memorandum of understanding, EEI will purchase brand-new heavy and construction machineries from ZL Machinery and Zoomlion for the company’s equipment re-fleeting project in the Philippines and for its overseas business.
“We anticipate a surge in infrastructure projects from next year onwards which we are committed to accomplish, not just in terms of target schedules and completion, but also with excellent service and quality that come with working with EEI. We also have to be efficient with our capex (capital expenditure) budget,” EEI president and chief executive Henry Antonio said.
“Acquiring equipment for several projects is one of the prudent investments we have to make to meet the demands of infrastructure work,” he said.
EEI executives flew to China to visit the Zoomlion Smart City and negotiated high-level terms of contract.
“In this industry, equipment reliability is a highly critical aspect of ensuring construction projects are executed on schedule. We believe that Zoomlion’s equipment and excellence in after-sales service and support will improve the capability of EEI’s project delivery and keep it on track,” Antonio said,
Founded in 1992, Zoomlion is mainly engaged in the R&D and manufacturing of construction machinery, agricultural machinery and other high-tech equipment and new construction materials.
EEI earlier said it expected its order book to increase to P60 billion in 2024 from P45 billion this year as it eyes more projects here and abroad.
It is looking at infrastructure projects in the Philippines including two more packages of the Metro Manila Subway Project (MMSP) and the P175-billion Bataan-Cavite Interlink Bridge Project.
It signed a memorandum of understanding with Saudi Arabia-based Samsung Engineering NEC Co. Ltd. (SENEC) in October to collaborate and work on projects based in the Middle East.
SENEC is a joint venture company of Samsung Engineering and Al Rushaid Petroleum Investment Corp.that aims to provide engineering, procurement and construction services initially within Saudi Arabia and into other markets at a later stage.