Megawide and its Korean partners bagged a contract to help build the Malolos-Clark Railway Project (MCRP). Hyundai Engineering & Construction Co., Ltd. (Hyundai E&C) and Dong-ah Geological Engineering Company Ltd. (Dong-ah) will be part of the mega project.
The P28-billion estimated MCRP is part of 163-kilometer North-South Commuter Railway (NSCR) project of the Department of Transportation (DOTr)'s.
Megawide announced the notification of award for the MCRP was issued last Friday, September 18.
The first phase of the NSCR, which broke ground in February 2019, is the 37.6-kilometer Tutuban to Malolos leg of the North-South Commuter Railway, which will run a total of 13 train sets that has eight wagons each. This will be linked to the linked to the MCRP and will also be seamlessly integrated into one railway system with the PNR Calamba.
Investors welcomed the news. On Monday, shares in Megawide rallied 4.17% to close at P7.50 apiece, bucking the main index’s flat performance.
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