November 21, 2025
DISCLOSURE DEPARTMENT The Philippine Stock Exchange 6/F PSE Tower 5th Ave. cor. 28th Street Bonifacio Global City, Taguig
Attention: Disclosure Department
Gentlemen:
We reply to your request for clarifications on the news article entitled Taguig subway deal awarded to DMCI, partner,” posted on The Philippine Star (philstar.com) today, November 21, 2025, it was stated in part that:
“. . . .
In a document obtained by The STAR, the DOTr issued the notice of award for Contract Package (CP) 105 for the Metro Manila Subway Project or MMSP to the joint venture of D.M. Consunji Inc. (DMCI) and Nishimatsu Construction Co. Ltd., marking another subway deal won by the duo.
Based on the notice of award, the DMCI-Nishimatsu joint venture will be paid a total of P21.73 billion (about $52.17 million or 3.96 billion Japanese yen). The sum is exclusive of 12 percent in value-added tax.
The award, dated Oct. 29, mandates DMCI and Nishimatsu to proceed with the project by furnishing the performance security in 28 days. The award was addressed to Keiji Matsushita, who represents the joint venture.
. . . .”
In response to your request, we hereby provide the necessary clarification:
We confirm that the joint venture of Nishimatsu Construction Co., Ltd. and D.M. Consunji, Inc. has received a Notice of Award from the Department of Transportation (DOTr) for Contract Package 105 of the Metro Manila Subway Project in October 29, 2025.
The project scope of work under this package includes the construction of the Kalayaan Avenue Station, the Bonifacio Global City (BGC) Station, and the tunnel connecting these two underground stations in Taguig City. The aforementioned project is estimated to be completed within 67 months from commencement. The joint venture is currently completing the requirements stipulated in the Notice of Award and will proceed to contract signing once scheduled by the DOTr. At this time, there is no additional material information to disclose.
For reference, the joint venture is composed of its majority and lead shareholder, Nishimatsu Construction Co., Ltd. and its local partner, D.M. Consunji, Inc.
Thank you. |