Manila Water eyes more foreign projects

MANILA, Philippines—Publicly listed Manila Water Co. wants to further expand its footprint around the region, starting with Southeast Asian countries where it already has a presence, according to its top official.

The move comes as the Ayala-controlled firm seeks higher operating margins as it nears the maximum level of efficiency and improvements it can wring from its Metro Manila east zone water concession.

“We are looking at more business opportunities in Vietnam,” Manila Water president and CEO Gerardo Ablaza told the Inquirer.

He pointed out that the company recently took a 31-percent equity position in Saigon Water Infrastructure Corp. with another Vietnamese firm and strategic investor Ho Chi Minh City Infrastructure Investment Joint Stock Co. (CII).

Ablaza said CII “has a pipeline of projects in water supply and wastewater treatment in Ho Chi Minh City and adjacent provinces,” which Manila Water could participate in if plans push through.

At the same time, the company also took its first step into the fast-growing economy of Myanmar, which opened its doors to foreign investors only in the last couple of years.