ENGINEERING and infrastructure conglomerate Megawide Construction Corp. was recently awarded the EPC contract for the Mandani Bay Quay Phase 2, the premiere waterfront development in Mandaue City, Cebu by HTLand, Inc., a joint venture company of Hongkong Land and Taft Properties.
“Megawide is proud to be a partner of HTLand, Inc. in the construction of the Mandani Bay Quay Phase 2,” said Edgar Saavedra, Megawide chairman and CEO, in a statement.
“With this large-scale, mixed-use development, we are solidifying Megawide’s engineering footprint in Cebu. It is truly a first-world project and we are committed to delivering the highest standards of engineering and construction,” Saavedra said.
Saavedra confirmed that the company had exceeded its P24 billion target in new contracts this year with the signing of the P10.1 billion Mandani Bay project.
“It is the largest contract for our construction segment that we have booked so far this year,” Saavedra said.
Megawide previously reported that new contracts awarded in the first nine months of the year amounted to P16.8 billion, 55 percent more than new contracts secured for the full year of 2017.
“Our prospects in the EPC business remain very bullish as we continue to expand our order book levels and ensure revenue visibility for the next two to three years,” he said.
Saavedra said Megawide would also be expanding the scale of its construction operations in Cebu with the construction of Mandani Bay. /PR