Longtime Philippine partner in property development Megawide Construction Corp. is looking to have its hands full by early next year as it eyes building two planned underground stations of the Metro Manila Subway project.
Speaking about the project, Megawide CEO and President Edgar Saavedra told reporters last week how the project lies in wait because of a “typical down payment” that the firm is yet to receive to kickstart the construction.
While Saavedra claims that the Department of Transportation (DOTr) is keen on expediting the building of the project, the arrival of the new administration caused the need for its budget approval.
Megawide, in May, was awarded the large infrastructure project aimed at building stations and tunnel works across Ortigas North and Ortigas South worth P17.75 billion via contract package (CP) 104.
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A collaborative project that involves two foreign companies, Megawide partners with two Japanese firms, Tobishima Corp. and Tokyu Construction Co. Ltd., for the venture.
Coinciding with the local contractor’s inclusion in the project, the DOTr also announced in May the start of the project as the tunnel boring machine (TBM) began its lowering at the Valenzuela depot.
With a single TBM able to dig 12 meters of tunnel per day alone, a total of 25 TBMs, which the undertaking will employ, is expected to dig through 600 cubic meters of soil.
If all goes well, the subway project is anticipated to begin operations by 2027.