[Infostock Daily=Reporter Park Jeong-Do] Hyundai E & C won an order for the construction of the Philippine railway of about 383.8 billion won.
Hyundai E & C announced on the 21st that it received a notice of winning the first construction of the Philippine inter-Korean railway, which was ordered by the Philippine Ministry of Transportation on the 18th.
The total construction cost is 670 billion won, and Hyundai E & C, the construction manager, has a share of about 383.8 billion won (57.5%). It has increased its competitiveness through strategic alliance with local company Megawide and earthworks construction company Donga Geology.
The Philippine Inter-Korean Railway First Region Construction is part of a 53-kilometer inter-Korean railway construction project connecting the northern Manila 'Maloros' and 'Clark'.
The first construction of Hyundai E & C is a project to build two ground history and a 17km high bridge. The construction period is 48 months from the start date.
The Philippine government predicted that when the inter-Korean railway is completed, the travel time between the capital Manila and Clark will be shortened, making accessibility more convenient. It is also expected to alleviate traffic problems in the metropolitan area and reduce transportation costs.
With this order, Hyundai E & C has set a foothold for re-leaping in the Philippine construction market in 34 years following the 1986 contract for the construction of the ADB headquarters. In particular, he explained that he has secured a favorable position for the southern route project, which is scheduled to be ordered in the future.
Recently, the Philippines is a country where large-scale infrastructure development is expected continuously in accordance with President Duterte's "Build, Build, Build" policy.
Meanwhile, Hyundai E & C is continuing to win orders for the Panama Metro Line 3 in February, the second construction of the Daejeon North Connection Line in July, and the first construction of the Philippine inter-Korean railway.
Reporter Park Jeong-Do newface0301@naver.com
