26/01/2014
Public company EEI Corp., the country’s leading construction firm, is looking forward to the implementation of the ASEAN Economic Community (AEC) by 2015 as the company wants to participate in the huge infrastructure projects in the region, especially Myanmar and Vietnam.
Roberto Jose Castillo, EEI Corp. CEO and president, told reporters at the recent ASEAN Comprehensive Investments Agreement forum that once the AEC takes effect it will abolish all barriers to trade and investments for the region. This single market economy will attract more investors into the region and that requires the services of construction firms like EEI, he said.“Investments will not work without builders like us to build facilities, infrastructure. It is boon for us builders, so if you ask if we are ready for AEC 2015 my answer is of course yes we are ready not only in construction but even in manufacturing because if you work outside where there is no government protection you will learn to compete with other firms and with that you become stronger,” Castillo said.
Castillo stressed that EEI is big only in the Philippines, but not globally. Despite its size, it has been able to get good contracts abroad. In fact, 57 percent of EEI business is from its foreign projects particularly in the Middle East where it has 10,000 workers.
EEI has had a few projects in ASEAN countries but opportunities have not been consistent unlike the Middle East where construction projects are a plenty.
Although there are big ASEAN construction firms in Singapore and Indonesia, none is undertaking infrastructure projects here except for a few Japanese, Koreans and Chinese.
EEI is bidding to become a subcontractor of the $20-billion chemical complex project in Johor Bahru in Malaysia that could employ 75,000 workers during the construction period.
“If we will win this contract then we are back in ASEAN,” Castillo said.
Once the ASEAN investment sector is opened, Castillo said they are looking at Myanmar and Cambodia, which have lots of infrastructure projects with competitive labor rates.
“We’ve been looking for the right time to go because there are also lots of projects here and that is our priority,” he added noting that EEI has been part of some projects like roads, airports, although the company is not part of the consortium.
In all of its projects abroad, EEI has always been using both Filipino and local workers. Although Filipino construction workers demand higher salary rates than other construction workers like Nepalese, they are also are also well-trained.
EEI also conducts free training before its workers are deployed abroad.
ASEAN is also strategic because it is closer to the Philippines than Middle East, but Castillo said they can work anywhere even in South Pacific.
Its biggest project so far is the $350-million clean fuel facility of Exxon Mobil in Yanbu, Saudi Arabia where EEI deployed 6,000 Filipino workers.
Written by barokah
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