HANJIN HEAVY INDUSTRIES

- Business alliance with the Philippines’ largest construction firm
 ‘EEI Corporation’, expected to win large infrastructure projects
- HHIC successfully completed nearly 100 projects since 1973…
  the No.1 foreign construction company in the Philippines

◆ Attachment : the photograph of strategic alliance agreement
   Byung-Mo, Lee, CEO of HHIC (second left)
   Roberto Jose L. Castillo, CEO of EEI (third left)

On June 4, HANJIN Heavy Industries & Construction (HHIC) announced that it signed a strategic alliance agreement for construction projects with EEI Corporation (CEO Roberto Jose L. Castillo) at the Philamlife Tower in Manila.

EEI, founded in 1931, is the largest general construction company in the Philippines. The company has successfully participated in various infrastructure projects including Manila Ninoy Aquino International Airport (NAIA), Mactan Cebu International Airport, Manila Light Rail Transit Line 7, as well as multiple power plants, highways, and ports. It has also actively participated in overseas construction projects in the Middle East and Singapore in addition to other landmark (e.g., Grand Hyatt Manila, etc.) and real estate development projects.

HHIC penetrated the Philippine market in 1973. Since then, the multinational construction company has successfully completed about 100 projects including Manila Light Rail Transit Line 2, Manila North Harbor, Davao International Airport, and Laguindingan International Airport. For nearly 45 years, it has maintained its dominant market position and No.1 ranking for foreign construction companies in the Philippines with great performances in infrastructure construction, aggressive localization strategies, and longstanding and solid relationships with local businesses.

The Philippines has aggressively promoted the construction industry, including infrastructure, and has emerged as a promising construction market under the Duterte administration’s large infrastructure development plan- ‘Build, Build, Build’. At present, nearly 70 projects worth KRW 200 trillion including roads, airports, ports, and railway bridges are under construction, and the number of foreign investors participating in such projects is increasing considerably.

Recently, the Southeast Asian construction market has grown while the Middle East construction market has declined. As a result, many foreign construction companies have shown great interest in the Philippines. Under these circumstances, HHIC aims to further expand its market influence in the Philippines by partnering with the leading the Philippines construction company and actively participating in construction projects, including large-scale infrastructure.

An official from HHIC said, “Forming a strategic business alliance between HHIC, one of the most reliable and respected foreign constructors in the Philippines, and local giant EEI can be a great opportunity to share business experiences and know-how with each other.” He added, “We are going to participate in diverse construction projects such as bridges, airports, ports and power plants with EEI through close cooperation and build a solid win-win relationship.”