https://cmcgruppo.com/wp-content/uploads/2021/01/logo-ok-.png 0 0 admin https://cmcgruppo.com/wp-content/uploads/2021/01/logo-ok-.png admin2018-12-03 08:06:302021-06-08 10:26:31Cmc asks preventive composition agreement with creditors procedure “with reservation”
Cmc asks preventive composition agreement with creditors procedure “with reservation”
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November 9, 2018 - CMC announces that a Board meeting took place today. Click here.
NBAQ4 AQUEDUCT INAUGURATED IN THE PHILIPPINES
Manila Water President and Chief Executive Officer Jose Victor Emmanuel A. de Dios and Department of Public Works and Highways Secretary Manuel M. Bonoan grace the ceremonial commissioning of the Novaliches-Balara Aqueduct 4 (NBAQ4) at the reservoir in La Mesa Dam in Quezon City on January 27, 2023.
The new aqueduct that will convey up to 1,000 million liters of water per day (MLD) is part of the rehabilitation of existing aqueducts to help ensure continuous water supply for more than 7 million customers in the East Zone and will pave the way for the inspection, assessment and subsequent rehabilitation of three other existing aqueducts, which have been operating since 1929, 1956 and 1968, respectively.
The NBAQ4 project involves the construction of a new intake facility and access bridge at the La Mesa reservoir, a 7.3-kilometer underground aqueduct with a 3.1-meter diameter passing under Commonwealth Avenue, and an outlet portal and downstream distribution works at the Balara treatment plant.
Following the previous press releases, Cooperativa Muratori & Cementisti – C.M.C. di Ravenna informs all creditors, stakeholders, shareholders and employees that it is continuing to make the utmost commitment and effort to reach the conclusion, in the shortest possible time, of an extraordinary operation aimed at maintaining business continuity and the fulfillment of the obligations of the composition procedure with creditors.
NBAQ4 hailed as overall winner in PECCA 2022
The Novaliches-Balara Aqueduct 4 (NBAQ4) Project was hailed as the overall winner in the 2nd Philippine Excellence in Concrete Construction Awards (PECCA) besting six other construction projects in an awarding ceremony held 9 June 2022. This achievement made NBAQ4 one of the official nominees of the Philippines to the American Concrete Institute (ACI) International Excellence in Concrete Construction Awards which will be held in Dallas, Texas later this year.
Organized by the ACI Philippines Chapter and the Philippine Constructors Association (PCA), PECCA aims to recognize outstanding concrete projects in the Philippines that celebrate innovation and technology and inspire excellence throughout the global concrete design and construction community. Nomination entries—concrete construction projects substantially completed between January 2019 through December 2021—were judged following four criteria: engineering, functionality/creativity, aesthetics/appearance, and innovative use of concrete. NBAQ4’s nomination entry was penned by project team members Emil Teodoro (former Planning Engineer), Amadeo Delos Reyes (QA/QC Manager), and Abram Veloria (Planning Engineer), with the guidance of Project Director Rod Scott.
Apart from the overall award, NBAQ4 also won in the Infrastructure Category, one of PECCA’s seven nomination categories.
NBAQ4 Project Director Rod Scott shares, “I am very proud to accept this award on behalf of the Novabala Joint Venture, CMC-First Balfour-Chun Wo. This is the result of many years of planning, hard work, and commitment by our team to deliver this world-class project. None of this would be possible without the support of Manila Water and Arup along with our designers GHD and CEC. The immense challenges of this project were overcome through perseverance and determination by our team, with more than 70% of the Project being completed through the COVID-19 pandemic.”
NBAQ4 Project Team used a total of approx 37,000 cubic meters of concrete and grout in various phases of construction including concrete production for the intake tower, access bridge, access roads, retaining wall, and electrical building at its site in La Mesa; and for the outlet tower, downstream distribution network, access roads, and electrical buildings at its Balara site. Of the complex concrete and grouting challenges the project team encountered, the most challenging was the precast segment production and grouting for the tunnel lining.
The TBM Tunnel comprises 6,194 rings or a total of 37,164 precast segments. The demoulding strength for each precast ring was designed to be achieved within 9 hours after placement. This period was reduced to 6 hours using improved design mixes to maximize precast ring production without compromising the quality of the concrete. The increase in production supported the team’s acceleration plan for tunnel works, which was completed four months ahead of contract schedule.
The NBAQ4 project is part of Manila Water’s improvement and expansion initiatives in the East Concession Area in coordination with the Metropolitan Waterworks and Sewerage System (MWSS). The largest and most important infrastructure projects undertaken by Manila Water to date, it involved the construction of a new intake facility at the La Mesa reservoir, a 7.3-kilometer underground aqueduct passing under Commonwealth Avenue, an outlet facility and a distribution network system integrating the new system to the Balara Water Treatment Plant. A Tunnel Boring Machine (TBM) was used to build the aqueduct – for the first time in the Philippines a TBM was used in an urban setting. Once completed and commissioned, the new aqueduct will be capable of delivering 1,000 MLD (1 million cu.m/day) to the treatment plants ensuring the reliability and security of its raw water transmission system to Metro Manila.
Following the previous note published on December 13th, 2021, Cooperativa Muratori & Cementisti – C.M.C. di Ravenna hereby confirms to its creditors, stakeholders, shareholders and employees that the negotiations concerning the conclusion of an extraordinary operation aimed at finding the necessary resources for the fulfilment of the Composition procedure’s commitments and for safeguarding of business continuity and employment are continuing.
CELEBREMOS SANTA BÁRBARA!
On 4 December, the traditional feast of Santa Barbara, the protector of workers in the mining activities and, in general, of anyone who risks dying a violent and sudden death, was celebrated at the CMC construction site in Rio Lomas in Argentina.
The mass inside the gallery was celebrated by the parish priest of Quilmes, who, during the blessing of the tunnel, highlighted the social importance of the work under construction.
Aysa’s management and presidency was present at the ceremony.
President Malena Galmarini thanked CMC for the invitation and for the considerable efforts made to carry out the work.
The activities of Cooperativa CMC di Ravenna continue
The activities aimed at CMC di Ravenna composition with creditors procedure’s execution despite the inevitable variations from the composition plan, due to the non-fulfillment of some hypothesis underlying it.
RIO LOMAS: VISIT OF THE PRESIDENT OF THE ARGENTINE REPUBLIC
On 6th November, the President of the Argentine Republic, Alberto Fernandez, visited the construction sites of the Agua Sur system. The President, accompanied by the Mayor of Quilmes and the President of Aysa, has repeatedly congratulated CMC and its workers for the enormous efforts made during the pandemic and the great results achieved so far.
The tunnel has already exceeded 3.7 km and various inspection chambers have already been built along the route. The site employs more than 280 direct workers and, once completed, will allow access to drinking water for a population of about 1.5 million inhabitants.
Bondholders that request SFPs or New Bonds
Specifying resolution and extension of the first conversion period. Press release
EXECUTION OF THE COMPOSITION WITH CREDITORS
New advisory board
Communication for Bondholders
Six-monthly extension of the terms of fulfillment of the composition with creditors
Extension of the first conversion period and issuance of the “CMC 2022-2026” Bond
EXTENSION OF THE FIRST CONVERSION PERIOD
The documents “Terms and Conditions of the Participatory Financial Instruments” (Annex I.9) and “Terms and Conditions of Bond Loan CMC 2022-2026” (Annex I.10) have been published in the Publications section; to view them click here.
Execution of the composition proposal towards the unsecured creditors and the bondholders