Daelim Industrial announced on Oct. 8 that it has signed a contract to construct the second section of the Malolos-Clark Railway Project (MCRP) ordered by the Philippine Ministry of Transportation.
The total construction cost is $616.97 million (725.2 billion won), and Daelim will jointly carry out the project with Acciona, a Spanish construction company, by establishing a joint venture. The stake for Daelim Industrial is 50 percent, which is worth about 362.6 billion won.
The Philippine government is working on a 163-kilometer-long south-north railway project that extends from northern Clark to southern Calamba via the capital Manila. MCRP is the first metropolitan area high-speed railway linking Malolos and Clark in northern Manila.
The total length was 51.2 kilometers, divided into five sections. The second section, constructed by Daelim Industrial, is a project to build a 15.8-kilometer overpass and one station.
The construction period is 48 months from the date of construction. Once the MCRP is completed, the travel time between Manila and Clark is expected to be reduced to less than an hour, ease traffic congestion in the metropolitan area and reduce greenhouse gas emissions.
Daelim Industrial has set the stage for entering the Philippine civil engineering infrastructure market in recognition of its technological prowess and performance capabilities accumulated through similar projects at home and abroad, including the Honam High Speed Railway and Vietnam's Hanoi Light Rail.
Daelim is currently carrying out such projects as the world's longest suspension bridge, the Chanakale Bridge in Turkey, the construction of the GTX-A route, the nation's first high-speed railway in the heart of Daesimdo, showing off its differentiated technology power in the civil engineering field.
It plans to secure a competitive edge in bridges, railways and ports that can be differentiated in the field of civil infrastructure business, while expanding its entry into new overseas markets.
In addition, the company plans to secure competitiveness in the developer business field, which covers the entire process of project discovery, financing and operation as well as design and construction.
