D.M. Consunji Inc. (DMCI), the construction arm of listed firm DMCI Holdings Inc., has secured P4.4-billion worth of new contracts in the first six months of 2016, raising the value of its ongoing projects to P27.9 billion.
In a statement, the company said that among the newly signed projects are the Spectrum BPO Building, City Gate of Ayala Land Inc., a 50-million-liter water reservoir in Quezon City, and two 23-megawatt gas turbine plants in Batangas.
Meanwhile, some of its major ongoing projects are Metro Manila Skyway Stage 3, civil works for Light Rail Transit (LRT) Line 2 East, and several high-rise buildings.
During the January to June period, DMCI posted a 19 percent jump in its net income to P397 million from P333 million a year earlier thanks to declines in project costs.
The company is expecting more construction projects from the public sector, particularly from the plans of the government to raise infrastructure spending to 6 percent of the country’s gross domestic product (GDP).
“We believe that DMCI is well-positioned to assist in the infrastructure renewal plan of the Duterte administration because of our track record in implementing complex and large-scale projects,” said DMCI president Jorge A. Consunji.
Among the past infrastructure projects completed by DMCI are: the Tarlac-Pangasinan-La Union Toll Expressway, LRT Line 1 North Extension Project (a joint venture with First Balfour Inc.), South Metro Manila Skyway Project (Stage 2), R10 to Tayuman Rail Line, and the Carmen and Magat Bridges, among others.
The company is under the Consunjis’ infrastructure conglomerate DMCI Holdings, which is engaged in real estate and construction (DMCI Homes, DM Consunji Inc. and DMCI Project Developers Inc.), power generation and mining (Semirara Power and Mining Corp., DMCI Power and DMCI Mining), and water utilities in partnership with Manny V. Pangilinan’s Metro Pacific Investments Corp. (Maynilad Water Services Inc.), among others.