EEI.COM.PH

LISTED construction company EEI Corp. said it is preparing to construct the first phase of the P15.75-billion Philippine International Exhibition Center (PIEC) in Pasay.

This comes after the company received the notice of award from the Department of Public Works and Highways for the design and construction of the project’s first phase, EEI said in a regulatory filing on Monday.

“The Philippine International Exhibition Center is a massive project that is poised to make a meaningful contribution to the economy. It marks a pivotal milestone for all of us in EEI, and we are honored and excited to support the government in bringing this vision to life,” EEI President and Chief Executive Officer Henry D. Antonio said in a statement.

The PIEC, planned for construction in Pasay Harbor City along Manila Bay, will have a gross exhibition area of 269,000 square meters and is projected to be the largest exhibition and convention center in Southeast Asia.

The project is described as a key infrastructure initiative supporting the government’s push to strengthen the competitiveness of the MICE sector, EEI said, adding that its construction will contribute to trade promotion and tourism development, and is likely to attract foreign investments.

Phase 1 of PIEC includes the detailed engineering design as well as the design, foundation, and structural works of the project.

“It will serve both local and international events, boosting the country’s presence in the world exhibitions arena. The issuance of the PIEC contract to EEI highlights the government’s drive for strategic infrastructure investments under the overall vision to bolster the Philippine economy,” the company said.

At the stock exchange on Monday, shares in the company closed unchanged at P2.70 apiece. — Ashley Erika O. Jose