EEI Corp. wins contract for Aeropark in Clark freeport

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SUBSIDIARY of House of Investment Inc. continues to have a strong construction pipeline locally, as it has been tapped by Global Gateway Development Corp. (GGDC) for a mix-used project in Pampanga.

EEI Corp. was awarded the contract to build the Phase 1 of Aeropark Campus within the Clark Freeport Zone.

This forms part of the master-planned 177-hectare Global Gateway Logistics City (GGLC), where The Medical City Clark is now located. Soon to rise here are corporate and business-process outsourcing offices, retail offerings, hotels, residential buildings, a town center, recreational areas and other spatial offerings and amenities. 

GGDC said at least 300,000 jobs will be created by this project over a decade.  It added that this development will bolster the growth and progress of the region. The whole project will entail investment of more than $3 billion in new facilities.

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GGLC recently broke ground and is set for completion in May 2017. Such a logistics and business hub is among the new construction projects of EEI here and abroad.

In particular, it is engaged in high-rise residential and commercial buildings, infrastructure projects, industrial plants, wind farms and other power-plant projects in the Philippines and in Saudi Arabia via its joint venture firm, Al Rushaid Construction Co.   For the first nine months of 2015, EEI reported that its consolidated revenues reached P13.76 billion. This is 18 percent over the previous year’s combined topline, with revenue from construction contracts accounting for most of the increase at P13.43 billion. Workable contracts as of September this year amounted to P48.84 billion.

The company, a member of the Yuchengco Group of Companies, posted an unaudited consolidated net income of P120.86 million in the first three quarters of 2015, or 76 percent lower than the P495.58 million registered in the same period in 2014.

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Roderick L. Abad graduated from Pamantasan ng Lungsod ng Maynila, with a degree course in Bachelor of Arts in Mass Communication. He has 12 years of journalism experience, starting as a Special Features Writer in a major daily newspaper. In 2006, he moved to the BusinessMirror in the same capacity and, eventually, became a beat reporter. To his credit, he was a finalist in the 2011 Holcim Journalism Awards for Sustainable Construction and the 2013 Lasallian Scholarum Awards. He remains affiliated with the BusinessMirror as a contributor.