Daelim Wins Philippine Railway Project Worth Approximately 360 Billion KRW

The First Metropolitan Area High-Speed Railway Connecting Malolos in Northern Manila and Clark
Daelim Plans to Construct Elevated Railway Bridges and Stations... Total Construction Cost 725.2 Billion KRW
Joint Venture Established with Spanish Construction Company for Joint Execution

[Asia Economy Reporter Onyu Lim] Daelim Industrial announced on the 8th that it has signed a construction contract for Section 2 of the Malolos-Clark Railway Project (MCRP), commissioned by the Philippine Department of Transportation.

The contract ceremony was held remotely via a video conference system due to concerns over the spread of COVID-19 and difficulties in international travel. The total construction amount is $616.97 million (approximately 725.2 billion KRW). Daelim will jointly construct the project by establishing a joint venture with the Spanish construction company Acciona. Daelim Industrial's share is 50%, amounting to about 362.6 billion KRW.

The Philippine government is undertaking a north-south railway project with a total length of 163 km, running from northern Clark through the capital Manila to southern Calamba. Among these, the MCRP is the Philippines' first metropolitan high-speed railway connecting Malolos in northern Manila and Clark. The total length is 51.2 km, divided into five sections for bidding. Section 2, which Daelim Industrial is constructing, is a project to build a 15.8 km elevated bridge and one station. The construction period is 48 months from the start date. A Daelim official stated, "Once the MCRP is completed, travel time between Manila and Clark will be reduced to within one hour, which is expected to alleviate metropolitan traffic congestion and reduce greenhouse gas emissions."

Daelim Industrial has laid the groundwork for entering the Philippine civil infrastructure market by gaining recognition for its accumulated technology and execution capabilities through similar domestic and international projects such as the Honam High-Speed Railway and Hanoi Light Rail Transit in Vietnam. Currently, Daelim holds differentiated technological capabilities in the civil infrastructure sector by undertaking projects such as the world's longest suspension bridge, the ?anakkale Bridge in Turkey, Korea's first deep underground urban high-speed railway GTX-A line, and the large-scale Tuas Port construction in Singapore.

Daelim Industrial plans to secure a competitive edge by focusing on bridges, railways, and ports, where technical differentiation is possible in the civil infrastructure business sector, while expanding entry into new overseas markets. Additionally, the company aims to strengthen competitiveness in the developer business sector, covering the entire process from project discovery, financing, and operation, as well as design and construction.

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