ArthaLand taps Chinese, Malaysian companies to build Cebu project

ArthaLand Corporation (ALCO) is tapping firms from China and Malaysia for the US$166-million engineering, procurement and construction (EPC) services of its Cebu Exchange project.

In a disclosure to the Philippine Stock Exchange, the firm said it has signed an agreement with China Railway Dongfang Group and Knusford Berhad covering general construction works as well as interior fit-out and interior furnishing services for the project.

China Railway Dongfang Group and Knusford will form a joint venture company in the Philippines to execute the EPC contract.

“The collaboration among the three groups brings together strengths in design, building construction, project management and expertise in the Philippine property sector,” Arthaland said.

China Railway Dongfang Group is a wholly-owned subsidiary of China Railway Group Limited (CREC), one of the largest construction conglomerates in the world.

CREC was responsible for over 60 percent of the railway construction of China in addition to major projects in the construction of bridges, tunnels, airports, high-rise buildings, and municipal facilities.

While CREC is present in over 60 countries worldwide, the Agreement signed with ALCO is the first venture for CREC in the Philippines.

Knusford Berhad, on the other hand, is a Malaysian publicly listed multi-disciplinary construction company involved in major construction works, property development, and investments.

This Group also provides machinery reconditioning, sales and rental of light, medium and heavy machinery and equipment, as well as the trading of building materials. (JAL)