EEI gears up for infrastructure boom with equipment refleeting — CEO

CONSTRUCTION company EEI Corp. announced on Tuesday a partnership with two companies as part of its equipment refleeting project in the Philippines and abroad.

“We anticipate a surge in infrastructure projects from next year onwards, which we are committed to accomplishing not just in terms of target schedules and completion, but also with excellent service and quality that come with working with EEI,” Henry D. Antonio, president and chief executive officer (CEO) of EEI, said in a statement.

The company has signed a memorandum of understanding with ZL Machinery Philippines, Inc. and Chinese construction machinery maker Zoomlion Heavy Industry Science & Technology Co., Ltd. to buy heavy and construction machinery for its refleeting project in the Philippines and abroad.

EEI expects its infrastructure projects to grow starting next year, the listed construction company said, adding that this growth will hinge on the reliability of the company’s equipment.

“We also have to be efficient with our capital expenditure budget. Acquiring equipment for several projects is one of the prudent investments we have to make to meet the demands of infrastructure work,” Mr. Antonio said.

Established in 1931, EEI has business interests in construction services and the distribution of industrial and machinery systems. Its energy arm offers power solutions for electrical equipment and services.

At the local bourse on Tuesday, shares in the company fell by nine centavos or 1.51% to end at P5.86 apiece. — Ashley Erika O. Jose