Award of Construction Contract for Pasig-Marikina River Channel Improvement Project (Phase IV) in the Philippines

　Toyo Construction Co., Ltd. (President and Representative Director: Kyoji Takezawa) has received an order
for Pasig-Marikina River Channel Improvement Project (Phase IV) from the Department of Public Works and
Highway (DPWH) of the Republic of the Philippines, the package 2 of which was awarded independently,
and the package 3 of which was awarded as a joint venture (JV) led by the Company. The signing ceremony
was held on July 19, 2021.

　As we already had received the orders for the Phase II and III of this Project, this is our third consecutive
award. The contract amount for the package 2 is approximately JPY 17.2 billion, and our share for the package 3
is approximately JPY 9.7 billion (approximately JPY 19.4 billion for the JV) – approximately 26.9 billion in total.
The work will be implemented as a Special Terms for Economic Partnership (STEP) of Bilateral Government Loan
(yen loan) of the Official Development Assistance (ODA).

　By our previous revetment work and river channel dredging work through the Phase II and III, flood damage of
the area around has been drastically reduced, and the revetment area designed for making people familiar with
the river has become the place of rest and relaxation for the community residents. Moreover, adjacent to the area,
many parks and commercial facilities, high-rise apartments and the like are developed one after another, which
indicates that this Project is significantly contributing to the area’s development.

　The awarded Phase IV is the development for the upstream part, which will reduce flood-caused damage to the
environs by the revetment work including raising riverbank for flood prevention and the river channel dredging for
improving flowability, as applied for the downstream. As for rainwater and domestic drainage flowing into the river
from the surrounding area, environment improvement is expected by the development of drainage channels and
the like performed during the same period. Therefore, it is expected that the works for this area will contribute
greatly to the area’s economic progress, same as in the downstream.

　The Company, since 1973 when it started operations in the Philippines as one of the countries that frequently
suffer from natural disasters, has participated in various projects. In the field of large-scale river works, we have
made many construction results such as: the urgent remedial work for Agno river area (central Luzon Island), the
food prevention work for Ormoc city (Leyte Island), the flood & erosion control work for Laoag river (north of
Luzon Island), Pasig-Marikina River Channel Improvement works: Phase II and III (Metro Manila), and the food
prevention work for Cagayan de Oro (north Mindanao Island), etc.

　Our business experience in the Philippines for nearly half a century is our irreplaceable asset. We will continue to
develop community-based business, transfer our technologies, develop our precious human resources, and contribute
to the country’s social & economic development.

＜Site locations ＞

＜Conceptual Drawing＞