Daelim Industrial-led consortium wins $616M railway deal in Philippines

Rail freight costs are relatively high in China, hampering the development of the sector. Photo: Xinhua. Sketched by the Pan Pacific Agency.

SEOUL, Oct 8, 2020, Yonhap. Daelim Industrial Co., a major South Korean builder, said Thursday its consortium has clinched a US$616 million railway project in the Philippines, Yonhap News Agency reported.

Under the deal with the Department of Transportation, the Daelim Industrial-led consortium will build a 15.8-kilometer-long viaduct and a station.

Daelim Industrial said it will take 48 months to complete the project.

Daelim Industrial has a 50 percent stake in the project, while the rest is held by the Spanish engineering company Acciona.

The deal is part of a 51.2-km-long railway project that will connect Malolos to Clark economic zone in the Philippines.

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