EEI bags contract for Phase I of Aeropark Campus in Clark

MANILA, Philippines - Yuchengco-led construction firm EEI Corp. has bagged a contract to undertake construction of the first phase of the Aeropark Campus within the Clark Freeport Zone in Pampanga.

The project forms part of the 177-hectare Global Gateway Logistics City (GGLC), dubbed as the first Aeropark in the country.

It is developed by Global Gateway Development Corp., which was originally founded by the The Port Fund, a private equity fund managed by KGL Investment Company (KGLI). 

KGLI is a private equity investment company focusing on development and investments in infrastructure, logistics and transport, oil and gas, energy and power and other diversified sectors in the Middle East, Asia and emerging markets.

This mixed-use city includes hospitals, retail, hotel and residential developments such as The Medical City Clark.

There will also be business process outsourcing  offices, retail offerings, hotels, residential buildings, a town center, recreational areas and other spatial offerings and amenities.

GGDC expects the project to generate at least 300,000 jobs over the next 10 years, thus accelerating the growth and prosperity of the region, EEI said in a disclosure to the Philippine Stock Exchange (PSE) yesterday.

The project is scheduled for completion in May 2017.

 In August, EEI also bagged a contract to supply and construct part of the P3.36 billion new Bohol airport project of the Department of Transportation and Communications.

EEI signed a subcontract agreement with the Chiyoda-Mitsubishi joint venture.

Targeted for completion in late 2017 or early 2018, the project will replace the Tagbiliran Airport, which is reportedly the 11th busiest airport in the Philippines.

The Tagbiliaran airport, which has a size of roughly 900 square meters, counted 789,800 passengers in 2013.

On the other hand, the new Bohol Panglao Airport is envisioned to have a floor area of approximately 8,800 sqm. with an annual passenger capacity of 1.7 million.

The new airport will incorporate the latest environmentally friendly and energy saving features that will complement Bohol’s brand as an eco-tourism destination.

Funding for the airport will primarily come from an Official Development Assistance Loan from the Japan International Cooperation Agency estimated at P4.6 billion. An additional P2.6 billion will come from the Philippine government.