EEI secures P17-b construction deals with Saudi venture

EEI Corp., the construction arm of the Yuchengco Group of Companies, said Monday it secured new overseas contracts with Al Rushaid Petroleum Investment Corp. of Saudi Arabia worth P17.38 billion.

Al Rushaid Construction Company Ltd., the joint venture of EEI and APIC, said the amount was almost thrice the value of outstanding contracts of P6.2 billion in 2020.

EEI president and chief executive Roberto Jose Castillo said the JV company landed 13 new contracts overseas on top of six ongoing projects in Saudia Arabia.

“We are confident because our healthy backlog will be good for at least two years’ worth of work. We are bidding for bigger projects both domestically and overseas. We have our health and safety programs in place for our workers, and we are utilizing leading-edge digital technology to help us with remote work supervision and improve operational efficiency. This is the kind of resilience our clients can expect from us,” he said.

EEI’s domestic projects are valued at P43 billion, covering building, infrastructure and electromechanical projects for 2021 and beyond.

EEI said domestic construction operations started to pick up in 2021, especially for major infrastructure projects.

These include Malolos Clark Railway Package 4 with participation in POSCO E&C’s Package 5, Metro Manila Subway Phase 1 and Metro Manila Skyway Stage 2-Sucat-Alabang viaduct expansion.

The company is also fulfilling building projects such as The Seasons Residences, the Light 2 Residences, the iMET BPO Towers, the Grand Midori Ortigas and others.

Castillo said EEI’s AAAA license from the Philippine Contractors Accreditation Board gave the company an advantage to participate in large infrastructure projects especially with the government’s “Build, Build, Build” program.

He emphasized the importance of being aligned with YGC’s thrust to be future-ready.

“EEI is in a good position to recover from the interruptions caused by the lockdowns because of our experience and expertise in the industry both locally and abroad. Projects will always come in, and we are always ready,” Castillo said.

Topics: EEI Corp. , Yuchengco Group of Companies , Al Rushaid Petroleum Investment Corp. , Saudi Arabia
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