Engineering and infrastructure conglomerate Megawide Construction Corporation (Megawide) will anchor its growth roadmap for the next two years on infrastructure developments in the Philippines, betting highly on its precast technology to meet demand from the recovering market.
The listed construction firm sees its precast technology, which creates concrete that is prepared, cast and cured off-site, as a “benchmark” for construction around this time of a pandemic.
Megawidechairman Edgar. B Saavedraunveiled his company’s post-COVID plans, as well as roadmap for the long-term sustainability of the business, at a virtual stockholders’ meeting this week.
Tripling precast capacity
“We will triple our precast capacity to accommodate demands from the external market,” Saavedra vowed.
Megawide’s precast products, he explained, are a standard because of their “functionality and suitability” to social distancing protocols.
“We anticipate greater demand for precast technology to fast track infrastructure developments and address the country’s six million housing backlog, aside from the acceptability of precast in new normal protocols at construction sites,” Saavedra said.
Last year, external sales accounted for 40% of Megawide’s precast business, lifting its construction segment revenues.
Ports activity affected by pandemic
Resuming operations after the months-long lockdown, Mactan-Cebu International Airport (MCIA), the company’s joint venture airline with Indian developer GMR Group, have rolled out contactless check-in, inquiries, and purchases.
It has set up a coronavirus disease 2019 (COVID-19) testing facility to help raise Cebu’s virus testing capacity.
The land port Parañaque Integrated Terminal Exchange (PITX), which reopened on June 8, is accepting bookings made via its mobile app. It will soon launch an automated ticketing booth.
Drawing a bead on modified “Build, Build, Build”
Megawide is eyeing to take on some of the government’s modified “Build, Build, Build” projects, including the Malolos-Clark Railway, North-South Commuter Line, and Metro Manila Subway projects.
It likewise plans to launch a mixed-use development and its proposed second runway at MCIA, as well as to pursue the second phase of PITX development by identifying key areas where it can put up similar land ports.