Manila Water taps HK-based firm to build P5.4-B aqueduct project
Manila Water Co. Inc. has engaged Asia Allied Infrastructure Holdings Ltd. to design and build the Novaliches-Balara Aqueduct 4, tagged at a cost of about P5.4 billion.
Asia Allied Infrastructure said in a statement that the project, which is expected to be completed by 2021, involved the construction of facilities that would convey water between Novaliches and Balara in Quezon City.
Manila Water and Asia Allied Infrastructure, along with two independent third parties, have signed a contract related to the project.
This develops as the Hong Kong-based construction firm completed in 2016 the acquisition of an engineering and architecture consultancy company in Singapore that is expected to enable Asia Allied to take growth opportunities in China as well as overseas.
Asia Allied, listed in the Stock Exchange of Hong Kong, described the Philippines as the world’s 10th fastest-growing economy, with an expansion of 6.5 percent in the second quarter of 2017—the fastest in the Association of Southeast Asian Nations (Asean) for that period.
“We are glad to have made our first mark in the Philippine market this year,” said Dominic Pang, chair of Asia Allied Infrastructure.
“Supported by strong government spending and construction projects, the Philippines economy has been growing healthily in recent years,” Pang said.
He said the strong inflow of foreign direct investments also added to the Philippines’ development in other sectors such as services and industries.
“We look forward to winning more infrastructure and development projects in the country moving forward,” Pang said.
Also, Pang said the project with Manila Water represented an important step for tapping into opportunities related to China’s “One Belt, One Road” initiative.
“[The project] will build a solid foundation for us to explore other government-related infrastructure opportunities in the Philippines and countries [and] cities around the region,” Pang said.
“We are confident that the project will be executed according to the highest industry standards, which will enable us to further build up our industry reputation in other overseas markets,” he added.
