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Thursday, February 29, 2024

Manila Water bags contract in Pagsanjan

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Manila Water Co. Inc., a unit of conglomerate Ayala Corp, said Tuesday its unit won a water distribution project in Pagsanjan, Laguna project.

Manila Water said in a disclosure to the stock exchange Laguna AAAWater Corp., a subsidiary of wholly-owned Manila Water Philippine Ventures Inc., signed a contractual joint venture agreement with the Pagsanjan Water District. 

Laguna Water, under the joint venture agreement, will serve as the contractor or agent of PAGWAD that will handle the operations, management and maintenance, as well as the design, improvement, upgrade, rehabilitation and expansion of water supply and sanitation facilities within the service area of PAGWAD in Pagsanjan.

Upon completion of the conditions of the agreement, Laguna Water and PAGWAD will operate the project for a period of 16 years, or until September 2035, with a full potential billed volume of 9.57 million liters daily.

The company did not disclose the investment cost for the project.

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Laguna Water is a piped-water service provider created through a joint venture of Laguna and MWPV.

MWPV holds 70 percent of the company’s shares while the provincial government of Laguna owns 30 percent. 

Laguna Water in 2018 secured the approval of the Laguna provincial government on the venture to engage in other businesses outside of the partnership.

The go-signal will enable Laguna Water to go into other concession activities, such as joint venture agreements with water districts and business-to-business engagements, among others.

Laguna Water is currently the largest water and waste water service provider in Laguna with over 130,000 service connections that include residential, commercial and industrial customers.

Laguna Water in 2018 earmarked P1.2 billion for various water source developments, including network expansion, improvement and rehabilitation.

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