LISTED construction company EEI Corp. has signed a deal with Concrete Stone Corp. (CSC) to supply the former’s precast concrete needs nationwide.
EEI and CSC signed a memorandum of understanding on June 10, the listed construction company said in a statement to the stock exchange on Thursday.
Under the agreement, CSC will fulfill EEI’s precast concrete requirements for multiple mega infrastructure projects nationwide.
“We look forward to a strong collaboration that bolsters our commitment to deliver quality and remarkable infrastructure projects that shape the Philippine landscape and contribute to the country’s connectivity, economic growth and nation-building,” EEI President and Chief Executive Officer Henry D. Antonio said.
EEI has business interests in construction and engineering services, with expertise in the construction of infrastructure, buildings, and industrial and electromechanical facilities.
One of the company’s mega-infrastructure projects in the pipeline is Metro Rail Transit Line 7 (MRT-7) financed by the Ang-led conglomerate San Miguel Corp.
MRT-7 will have 14 stations from Quezon City to San Jose del Monte, Bulacan. It is estimated to carry 300,000 passengers daily in its first year, and up to 850,000 passengers daily in its 12th year.
CSC is engaged in the production and supply of construction solution materials. Its products include aggregates, precast, cement, and asphalt. The company is the manufacturing arm of the Chua Group’s Industry Holdings and Development Corp.
On Thursday, EEI stocks dropped by 0.21% or one centavo to P4.86 apiece. — Revin Mikhael D. Ochave
