Maynilad pursues Indonesian expansion
Maynilad Water Services Inc., the water concessionaire for Metro Manila’s so-called “west zone,” is moving forward with its expansion in Indonesia.
The company, controlled by Metro Pacific Investments Corp. (MPIC), DMCI Holdings Inc. and Japan’s Marubeni Corp., said it has formed a joint venture with partner PT Moya Indonesia.
Their joint-venture company was tentatively called PT Water Tecnologia Indonesia, which will provide water and wastewater services in Indonesia such as pipe network design and installation, non-revenue water and wastewater management.
The announcement was in step with Maynilad’s plans to have a bigger presence in the region.
According to Maynilad, Moya Indonesia will own 51 percent of the venture, with Maynilad owning 49 percent.
It said the venture’s principal license and incorporation would be subject to the approval of the Investment Coordinating Board and the Ministry of Justice, respectively, of Indonesia.
Moya Indonesia, which was established in 2011, owns 95 percent of PT Moya Bekasi Jaya, PT Moya Tangerang and PT Moya Makassar. Each of these firms has a service concession arrangement with the Regional Drinking Water Co. (PDAM) of Tirta Bhagasasi Bekasi Regency, Tirta Benteng Tangerang City and Tirta Dharma Makassar City, respectively, for the provision of bulk water to those areas.
Moya Indonesia is wholly owned by Moya Indonesia Holdings Pte. Ltd., a Singapore company. It is, in turn, owned by Moya Holdings Asia Ltd., a company listed at the Singapore Stock Exchange’s Catalist.
