Manila Water Co. Inc. is investing P8 billion in a water supply infrastructure in Pangasinan after clinching a 25-year partnership with the provincial government.
The Razon-led concessionnaire of the Metropolitan Waterworks and Sewerage System’s (MWSS) East Zone business area said in a statement it has received from the local government unit a notice of award to develop, secure financing, build, operate and maintain a bulk water facility within Pangasinan.
Manila Water is expected to fulfill these commitments through a consortium with wholly owned subsidiary Manila Water Philippine Ventures Inc. (MWPV)
MWPV is Manila Water’s vehicle for engagements outside of its main business, the MWSS East Zone concession, mainly with local governments and water districts.
Unsolicited proposal
The deal comes five years after the Manila Water group submitted an unsolicited proposal to the provincial council.
This proposal was formally accepted in November 2018 and negotiations on the concession were certified as successful in July 2019.
The Manila Water consortium is committed to develop a bulk water supply project for Pangasinan, which is expected to provide as much as 200 million liters of water per day by the end of the concession period.
MWPV also operates bulk water supply projects in the Province of Cebu and in Tagum, Davao del Norte. It also provides water and wastewater services in Batangas, Laguna, Bulacan, Pampanga, Boracay, Iloilo and Samar, among others.Meanwhile, Manila Water said it signed last Sept. 30 the amendment to the revised concession agreement (RCA) with MWSS that was signed last March 31.
The amendment delays the effectivity date of the RCA from Sept. 30 to no later than Nov. 18.