EEI Corp. said it has been awarded the P1.79-billion contract for the construction of Cavitex-Calax link segment 4.
In a regulatory filing on Monday, EEI said it received the letter of acceptance issued by CAVITEX Infrastructure Corp. (CIC) for the construction of the 7.4-kilometer 2×2 lane expressway from Zapote Interchange in Bacoor to Kawit Toll Plaza.
“The Company received the Letter of Acceptance issued by the CAVITEX Infrastructure Corp. for the Construction of the CAVITEX-CALAX Link (Segment 4 Extension) Project for a total contract price of P1,791,542,140.01,” EEI told the stock exchange.
According to CIC, a unit of Metro Pacific Tollways Corp. (MPTC), the segment four project will connect Cavitex or the Manila-Cavite Expressway and Calax or the Cavite-Laguna Expressway.
Established in 1931, EEI has business interests in construction services and the distribution of industrial and machinery systems.
EEI is primarily engaged in the construction of power-generating facilities, oil refineries, chemical production plants, rails, ports, expressways, and high-rise towers.
Its subsidiaries include EEI Ltd., EEI Construction and Marine, Inc., and EEI Power Corp.
MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
