The new ownership group of construction giant EEI Corp. is gearing up for a fresh surge of projects in the second full year of President Bongbong Marcos.
Despite the recent economic growth slowdown in the Philippines, EEI aligns with the majority of experts who believe that the country’s long-term growth prospects will remain among the strongest in Southeast Asia.
“EEI foresees productive years ahead given its position to win more contracts as it continues to bid for local buildings, infrastructure and industrial projects. The company’s ongoing bids for various domestic projects reflect the resilience of the Philippine economy,” said EEI.
EEI expects to compete for projects worth ₱50 billion set to be awarded from the fourth quarter of 2023 through 2024.
“These prospective projects are scattered across light industry, as well as public and private infrastructure projects. With this fresh pipeline of opportunities, the company has taken measures to prepare, including investment in systems, streamlining recruitment, and building up its technical training capabilities,” said EEI which has P47 billion in pending projects as of June 2023.
EEI also believes the ₱8.3 trillion Build Better More (BBM) infrastructure program will be critical in boosting the country’s economy, tourism, and foreign investments.
“This program can provide significant demand for more construction services in the years to
come and spur growth in the construction sector where EEI remains to be one of the major players,” said EEI.
EEI is now managed by RYM Business Management (20 percent) and Industry Holdings Development Corp. (14 percent) after its previous controlling shareholder, House of Investments led by bilyonaryo Helen Yuchengco-Dee, was reduced to a minority.