D.M. Wenceslao & Associates, Inc. (DMW) is planning to participate in infrastructure projects of the government which may require expertise on dredging, land reclamation or horizontal construction, a top official said.
“If it’s something related to what we can do, dredging or land reclamation or horizontal construction, then we will participate,” DMW Chief Executive Officer Delfin Angelo C. Wenceslao told reporters after a tour of the company’s Aseana City estate in Parañaque on Friday.
Mr. Wenceslao said the company is looking at participating in projects such as the Laguna Lakeshore Expressway Dike project and Sangley Point Airport in Cavite — both of which require dredging and land reclamation.
“Right now we’re looking at, if matuloy yung Laguna Lake, because at the time before, people were contacting us about the dredging part,” Mr. Wencesalao said.
The P123-billion Laguna dike project — previously the biggest public-private partnership (PPP) project of former President Benigno S. Aquino III — involves a 47-kilometer flood control dike on top of a six-lane expressway from Taguig City to Los Banos. It also includes the reclamation of 700 hectares of the expressway-dike.
The project however has been deferred after the three groups that qualified for the PPP did not submit offers. The Department of Public Works and Highways then decided to pursue the project’s components separately, starting with the P50-billion Laguna Lakeshore Road Network Project that will connect Metro Manila to areas surrounding the Laguna Lake.
Mr. Wenceslao said the company is also considering participating in the reclamation portion for the airport project in Sangley Point, Cavite. There are currently two proposals for an airport in the area, including a $9.3-billion airport bid by Cavite’s provincial government which will reclaim around 1,500 hectares of land.
The other proposal consists of the $12-billion Philippine Sangley International Airport submitted by the consortium of Solar Group’s Wilson Y. Tieng and tycoon Henry T. Sy, Sr. The plan includes the reclamation of around 2,500 hectares of land north of Sangley peninsula.
Kasi may reclamation project din dun (There’s also a reclamation project in Sangley). That’s something we can do. There are only one or two reclamation companies in the country with a track record,” Mr. Wenceslao said.
Aside from its interest in government projects, DMW is currently processing the permits for its proposed reclamation project in the city of Mandaue in Cebu. The company is tapping a Belgian firm as its reclamation contractor for the project, which covers around 200 hectares.
DMW’s net income attributable to the parent grew 42% to P969.8 million in the first half of 2018, as revenues likewise gained 23% to P1.2 billion during the period.
The newly-listed property and construction firm will be spending P12 billion in the next five years for the development of projects in the 204-hectare Aseana City, including office, residential, and retail spaces. — Arra B. Francia