Megawide Bags P17.75 Billion Contract to Build Underground Stations for the Metro Manila Subway

Listed Megawide Construction Corp. will construct underground stations for North and South Ortigas as well as tunnels connecting the two locations of the Metro Manila Subway, the company announced Thursday. 

The contract was awarded by the Department of Transportation to Megawide and its Japanese partners Tokyu Construction and Tobishima Corp. and is worth P17.75-billion.

According to  Edgar Saavedra, the chairman and CEO of Megawide, the deal facilitates the company’s “diversification into rail systems, which will include underground technology.”

“Megawide and our partners Tokyu and Tobishima represent expertise, innovation and commitment in our respective fields and nations, which we believe will be critical to the success of this pioneering venture,” he said. 

Tokyu Construction Co., Ltd. is an established general contractor engaged in commercial, institutional, and residential buildings as well as civil engineering works for dams, bridges, and transportation systems. It led the redevelopment of the Tokyo Metro Ginza Line Shibuya Station located at the center of Shibuya, a key district in Tokyo.   

Meanwhile, Tobishima Corporation is one of Japan’s leading general contractors, involved in large-scale civil engineering works for hydro-electric power plants, dams, and railroads, with onshore and offshore projects located in Brunei Darussalam, Indonesia, Pakistan, and Myanmar, among others.  

“I am confident that they certainly will apply Japan's cutting-edge technology and knowledge to the Metro Manila Subway’s best advantage,” said Japanese Ambassador Koshikawa Kazuhiko. 

Megawide is one of the largest infrastructure companies in the Philippines with significant interests in construction, property development, airport and terminal operations, and renewable energy. It is perhaps best known for building the Parañaque Integrated Terminal Exchange and the Cebu-Mactan International Airport.

Over 90 percent of its revenues comes from its engineering and construction business, and the rest from its landport operations in PITX, which contributes about five percent, and its airport operations in CMIA, which contributes about three percent.