EEI bags P1.7-B air traffic surveillance contracts

MANILA, Philippines - Yuchengco-led construction firm EEI Corp. recently won two air control projects with a combined value of P1.7 billion.

Sources said EEI has resumed the construction of the Communication, Navigation and Surveillance/Air Traffic Management Systems Development of the Department of Transportation and Communication under Sumitomo Corp., which was suspended in 2011.

The first package is worth around P700 million while the second is worth around P1.2 billion.

For its overseas operations, EEI had already completed the construction of its projects in Singapore and New Celadonia.

EEI remains on the lookout for new opportunities in other Asian countries.

In the Middle East, EEI, through Its subsidiary, will continue to capitalize on its reputation and strong presence in the Kingdom in pursuing more construction projects. It shall also pursue overseas projects outside Saudi Arabia.

The company expects to strengthen its robust position in the domestic market by various building initiatives in the areas of business process outsourcing, mining and power as well as the development of structures to support tourism and residential acquisition which will be fuelled by OFW remittances.

EEI is also looking at Public-Private Partnership projects under the government’s privatization program.

As of the end of end-June this year, EEI’s unworked portion of existing contracts reached P27.06 billion, 45 percent of which are for domestic projects and the remaining 55 percent for foreign projects.