EEI eyes more infrastructure projects 

EEI Corp. intends to participate in more big-ticket infrastructure and other construction projects after raising P6 billion from a follow-on offering (FOO), according to a report by Philippine Star.

EEI completed its FOO last December, raising P6 billion to partially finance its future projects, to pay existing short-term loans and fund capital expenditure for new equipment, and for general corporate purposes and other working capital requirements.

The company said it would continue to participate in the government’s Build Build Build program, as well as private sector projects.

Its big ticket projects include the MRT-7, a 23-kilometer railway line that connects Quezon City and Bulacan, and the Metro Manila Skyway Stage 3, which connects the North Luzon Expressway and the South Luzon Expressway.

EEI’s participation involved improvement works in selected at-grade sections and sections 3 and 4. Section 3, which is 2.71 kilometers long, runs from Aurora Boulevard to Quezon Avenue, while Section 4, with a distance of 4.81 kilometers, stretches from Quezon Avenue to Balintawak.

Its other projects include the Double Dragon Corporate Center and Sky Suites project, owned by Double Dragon Properties Corp., located at the corner of EDSA and Quezon Avenue, Quezon City and the SM Group’s Fame Residences in Mandaluyong City.

During the COVID-19 pandemic, EEI adopted digital technologies to increase efficiency, starting with the provision of proper tools for both office-based employees to those with co-morbidities for an effective remote work-from-home set-up.

Among the key programs launched by EEI include the cloud-based Common Data Environment (CDE) and Reality Capture tools to enable virtual job site monitoring.

EEI also has projects abroad in collaboration with other foreign firms from the Middle East and Southeast Asia that enabled the company to provide construction services for power plants, petrochemical refineries, and industrial installations in Saudi Arabia, Kuwait, Algeria, New Caledonia, Singapore, Malaysia and Brunei.

At present, EEI has 12,615 employees across its different construction projects in the Philippines, with another 6,074 deployed overseas and 2,785 in its local subsidiaries.