Hyundai Engineering and Construction announced Monday that it signed a formal contract for the South Commuter Railway Project. Last month, the company received the Letter of Award for a project of the Department of Transportation of the Philippines valued at about 1.9 trillion won.
The signing ceremony was joined by Mr. Ferdinand Marcos Jr., president of the Philippines, and Mr. Yoon Young-Joon, CEO of Hyundai E&C. The South Commuter Project (SCRP) is a new 56-kilometer railway that will connect Metro Manila with Calamba. Hyundai E&C will be in charge of three of nine sections, accounting for 90 percent, worth 1.7 trillion won.