DMCI secures Philippine Skyway Stage 3 contact
Philippine infrastructure conglomerate DCMI, owned by the Consunji family, has agreed to build part of the Metro Manila Skyway after being awarded a 32-month contract.
In a disclosure to the Philippine Stock Exchange, DMCI Holdings announced it would build sections one and two of the extension part of the project, which will provide the finishing touches on the Philippines' first fully elevated highway.
It is hoped the project will decongest the major roads of metro Manila and reduce travel time from Buendia to Balintawak in Quezon City to 20 minutes or less from two hours.
In addition, the project is expected to lessen pollution and promote economic development. According to the official website, the highway will also offer more revenues to the government and provide safety and security.
DCMI Holdings was founded by David Consunji in 1954. The 93-year-old has been nicknamed the “father of construction” in the Philippines, due to the way his company has transformed the country’s skylines.
JCB donates diggers to Nepal relief effort
Family-owned machinery giant JCB has donated $1 million worth of diggers and electrical power generators to support the relief effort in earthquake-stricken Nepal.
Ten backhoe loaders were made immediately made available to the Nepalese Army by the local JCB dealer after the 7.8 quake killed more than 8,000 people.
JCB Chairman Lord Bamford said: "It is shocking to see the devastation caused by this earthquake and the resulting widespread damage and destruction. On behalf of JCB, I express my heartfelt condolences to everyone affected by this natural disaster. JCB will continue to help the Nepalese Government is every possible way."
The company is the UK’s largest family-owned facilities management group – and has operations in five continents. The 70-year-old company had revenues of £2.7 billion ($4.1 billion) in 2012.
Todd Corporation digs deep to acquire Pilbara mine
Todd Corporation, the holding company owned by New Zealand’s wealthiest family, has completed a $10 million deal that could see it gain ownership of Flinders Mines' flagship iron ore project in western Australia.
The Wellington-based company has the option to pay a further $55 million should it decide to acquire the Pilbara project outright.
Flinders managing director Ian Gordon said that the ownership transfer to the Todd family represented the most efficient way of adding value to shareholders.
Todd Corporation was founded in 1885 by Charles Todd as a wool-scouring company, a few years after the family immigrated to New Zealand from Scotland.
According to Forbes, fourth-gen John D Todd became the country’s first billionaire in 2001.