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Friday, March 29, 2024

DMCI-Marubeni out of MRT-7

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San Miguel Corp. is set to announce the winning contractor that will construct the $1.2-billion Metro Rail Transit Line 7, and it is not going to be the Marubeni-DMCI consortium, the original contractor tapped by the conglomerate.

While San Miguel president Ramon Ang did not divulge the winning bidder for the project, he said the contractor would no longer be the Marubeni-DMCI joint venture.

The joint venture of Japan’s Marubeni Corp. and DMCI won the $1.2-billion project in 2012 when it signed an engineering, procurement and construction contract for both the MRT Line 7 and Intermodal Transport Terminal of MRT 7 with San Miguel-led Universal LRT.

Ang, however, announced in November last year San Miguel would bid out again the construction contract for MRT 7, because of the need to update the project’s cost, with prices of construction materials changing substantially since 2012.

Once the new contractor for the project is announced and the financial closing is completed, construction of the 22-kilometer line from San Jose del Monte in Bulacan all the way to North Avenue, Quezon City, is expected to go full blast.

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The Consunji group said it respected San Miguel’s decision and even participated in the rebidding process.

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