Manila Water Co. Inc. of conglomerate Ayala Corp. said a unit signed a 25-year lease agreement with Philippine Economic Zone Authority to operate and manage the water facilities of Cavite Special Economic Zone.
Manila Water said in a disclosure to the stock exchange wholly-owned Manila Water Philippine Ventures Inc. would lease, operate and manage the water and used water facilities of Peza in the Cavite Special Economic Zone to provide services to companies operating in the industrial park.
Manila Water said MWPV would use its expertise in industrial zone operations and provide capital expenditures for the duration of the agreement.
The Cavite Special Economic Zone is a 275-hectare industrial estate with 297 locators consuming approximately 0.35 million cubic meters per month, or 12 million liters per day.
MWPV, formerly known as AAA Water Corp., is engaged in wastewater processing and maintenance services. It operates Laguna Water under the joint venture agreement with the provincial government of Laguna.
MWPV also provides water and used water services to all Ayala Land projects as well as its subsidiaries, including Alveo Land Corp., Avida Land Corp., Amaia Land Corp., Bellavita Land Corp., Portico Land Corp., Cebu Holdings, Cebu Property Ventures, Asian I-Office Properties Inc., Saline Inc., Avencosouth Corp., Accendo Commercial Corp., Cagayan De Oro Gateway Corp., Nuevocentro Inc., Aurora Properties Inc., Ceci Commercial Ventures Corp., Amaia Southern Properties Inc., Long Land Realty Corp., Buklod Bahayan Realty and Development Corp., SouthPortal Properties Inc., Ten Knots Philippines Inc. and AyalaLand Hotels and Resorts Corp.
Manila Water holds the east zone concession encompassing parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most of Quezon City and portions of Manila.
It also serves the water requirements of Rizal province that includes the towns and cities of Angono, Antipolo, Baras, Binangonan, Cardona, Jala-Jala, Morong, Pililia, Rodriguez, San Mateo, Tanay, Taytay and Teresa.