Prime Infrastructure Holdings Corp. wants Manila Water Co. Inc. to become a global water services company in the league of the Enrique Razon Jr.-led group’s flagship port operations business.
The company said in a statement the acquisition by subsidiary Trident Water also marked a significant milestone in its business strategy of becoming a leader in the domestic water services market.
As a result of the acquisition, Razon was elected on June 3 as chair, president and chief executive of Manila Water.
‘Dynamic and fast-growing’
Coupled with the group’s ongoing flagship Wawa bulk water supply project, Prime Infra is taking position as the leading bulk water supplier and distribution utility operator in the Philippines.
“Prime Infra is part of a dynamic and fast-growing group of companies that have successfully brought the Filipino brand to the world. It is then only a logical move for us to take the leap into becoming a global Filipino water company by focusing on strategic and scalable water businesses, leveraging on our group’s vast network, experience and resources,” said Razon, who is also chair of Prime Infra.
Overseas presence
Manila Water maintains overseas presence in Vietnam, Thailand, Indonesia and Saudi Arabia. It is also engaged in various joint ventures with various local water districts across the Philippines.
Razon said the Prime Infra management team would work hand in hand with existing Manila Water shareholders to seek expansion opportunities both in the Philippines and abroad. Apart from water,
Prime Infra’s infrastructure assets also include sustainable energy and construction. It would soon expand to other industries as part of its commitment to bring and improve services to communities around the world. INQ