By Iris Gonzales (The Philippine Star) | Updated May 17, 2017 - 12:00am
MANILA, Philippines - Construction firm D.M. Consunji Inc. (DMCI) has bagged P9.5 billion worth of projects in the first quarter of the year, bringing its year-to-date order book to over P27 billion.
For the rest of the year, DMCI president Jorge Consunji said the company expects growth to be modest but hinted this could change if the Duterte administration’s plan to usher in the so-called golden age of infrastructure would finally be implemented.
“We foresee modest growth this year, which will come mostly from building and infrastructure contracts. The real game-changer would be the rollout of infrastructure projects by the government. If these projects push through as scheduled, then Filipino contractors stand to gain from the construction activities,” Consunji said.
The company’s projects comprise public and private contracts, ranging from big-ticket infrastructure to power plants.
It won the contract for the P1.3- billion Bued Viaduct at Section 3B-3 and roadway construction of Section 3B-4 Bued to Rosario, La Union of the Tarlac–Pangasinan–La Union Expressway of Private Infra Development Corp. (PIDC).
It also bagged a P7.2-billion contract for the Laguna portion of the Cavite-Laguna Expressway project from MPCALA Holdings Inc.
Another project is the LRT-2 East (Masinag) stations under the Department of Transportation, and the thermal power plant of JGC Philippines.
Major ongoing projects include Sections 1 and 2 of the Metro Manila Skyway Stage 3 project of Citra Central Expressway Corp., Citygate mixed-use development in Makati, The Royalton and Imperium luxury condominiums of Ortigas & Co., The Areté of Ateneo de Manila University and NCCC Mall of LTS Malls Inc., the company said.
Last year, the company completed three major infrastructure projects – the NAIA Expressway, LRT-2 East (Masinag) Viaduct and The Runway connecting NAIA Terminal 3 to Resorts World Manila.
On a stand-alone basis, DMCI recorded a net income P259 million from January to March, up 19 percent from P219 million the prior year.
DMCI has set a capital expenditure of P900 million this year.
Its parent company, DMCI Holdings, is the engineering and construction conglomerate founded by the Consunji family led by its patriarch David Consunji, one of 14 Filipinos in the list of the world’s richest men, with a net worth of $3.1 billion.
The conglomerate’s businesses are in construction, housing, water, mining, power and infrastructure.