Maynilad Water Services Inc. and its joint venture partner were shortlisted for a big bulk water and distribution project in Indonesia.
Maynilad president Ramoncito Fernandez said in an interview the company was one of the four companies that were pre-qualified to bid for a water concession project in Jakarta.
The project involves bulk and water distribution to 500,000 households.
Fernandez said while bidding was set in the first quarter, there could be some delay in the submission of actual bids.
This will be Maynilad’s first venture outside the Philippines.
Maynilad signed an agreement with an Indonesian firm in November 2016 to put up a joint venture company that would provide water and wastewater services in Jakarta.
Under the plan, Maynilad and joint venture partner PT Moya Indonesia will create a company called PT Water Tecnologia Indonesia.
PT Moya Indonesia will own 51 percent of the joint venture, while Maynilad will own 49 percent.
The joint venture company will offer various water services including pipe network design and installation, non-revenue water and wastewater management.
Maynilad is a consortium made up of Metro Pacific Investments Corp., DMCI Holdings and Marubeni Corp. of Japan. It operates the water concession in the west zone of Metro Manila.
Maynilad reported a 26-percent decline in core net income in 2016 to P7.2 billion from P9.7 billion in 2015, following the expiration of the water utility firm’s income tax holiday.
Revenues went up 6 percent to P20.2 billion from P19.1 billion a year ago, on higher billed volume and tariff increase.
Volume sold in 2016 climbed 4 percent, as water connections went up 4 percent to 1.32 million households. Non-revenue water represented 30.6 percent as of end-December 2016.
Maynilad allocated P13.2 billion in capital expenditures to fund its water and wastewater infrastructure projects.
