Daelim Industrial has signed a contract to build the second section of the Malolos-Clark Railway Project (MCRP) ordered by the Philippine Ministry of Transportation, the company said on Oct. 8.
Daelim Industrial will jointly carry out the project worth $616.97 million (725.2 billion won) 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.
Its 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 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.