MPIC unit bags P1.62-B Dumaguete water project
Infrastructure holding firm Metro Pacific Investments Corp. has expanded its footprint in the water sector with a new P1.62-billion deal to modernize Dumaguete City’s water distribution and wastewater management system.
MPIC’s subsidiary MetroPac Water Investments Corp. (MPW) has officially received from Dumaguete City Water District (DCWD) the notice of award for the rehabilitation, operation, maintenance and expansion of DCWD’s existing water system.
MPW and DCWD will enter into a joint-venture agreement upon completion of the post-award activities. A joint-venture corporation will be organized pursuant to the provisions set in the agreement and will “implement the project, including the right to bill and collect tariff for the water supply and wastewater services provided to the customers in the service area of DCWD.”
DCWD serves Dumaguete City and portions of the municipalities of Valencia, Sibulan and Bacong. The estimated population in the area being served by DCWD is 162,389.
The P1.62-billion project cost is for the duration of the 25-year concession, with an initial equity investment of P700 million in 2018. —DORIS DUMLAO-ABADILLA
