Megawide invests P3 billion in Cavite precast plant
Engineering and infrastructure company Megawide Construction Corp. is investing P3 billion to develop a new precast facility in Cavite that will more than double its production capacity.
Engineering and infrastructure firm Megawide Construction Corp. plans to invest P3 billion in a new precast plant in Cavite, Philippines. This investment will more than double the company's production capacity, according to Megawide chairman and CEO Edgar Saavedra. Saavedra explained that expanding precast manufacturing capacity is essential for increasing overall production capabilities.
The company's expansion aligns with the Philippine government's 4PH program, which aims to produce 100,000 affordable housing units. Megawide's current factory in Taytay, Rizal, can produce 10,000 units annually. However, the company hopes to boost output to 25,000 units by building a new factory in Cavite, potentially delivering up to 15,000 units annually.
The P3 billion investment will cover land acquisition and equipment upgrades for the new facility, with a projected opening in the second half of 2027. Megawide employs advanced precast construction technology to ensure standardized, efficient, and high-quality housing solutions. In December 2022, Megawide entered a partnership with Pag-IBIG Fund to accelerate the 4PH program, with the company issuing P10 billion in perpetual preferred shares to HDMF, which will fund at least 7,000 affordable housing units over the next two to three years.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
