Subic Water and Sewerage Company Inc. said it aims to achieve 100-percent wastewater service coverage in Olongapo City after obtaining a fresh 20-year extension of its franchise agreement with Subic Bay Metropolitan Authority (SBMA).
Subicwater is a joint venture of DMCI Holdings Inc. through its subsidiary DMCI Project Developers Inc., IV3 Aqua Holdings, SBMA, Maynilad Water Services and the city government of Olongapo.
DMCI said in a statement Subicwater and SBMA signed a new agreement that extends their partnership for another 20 years or until March 31, 2047.
The agreement will ensure the continued delivery of water and wastewater services in the Subic Bay Freeport Zone and Olongapo City.
“We thank SBMA for trusting us to continue serving the community,” said Subicwater chairman Apollo Tiglao.
“This extension helps us move closer to our goal of 100 percent wastewater service coverage in our areas,” he said.
Subicwater announced several new plans, including expanding its sewerage and sanitation services, focusing on areas that are underserved or experiencing growth.
It will also begin offering sewerage services in Olongapo City by using the existing infrastructure in the Freeport. This will strengthen collaboration between Subicwater, SBMA and the local government.
Subicwater committed to investing in new infrastructure and improving its operations aimed at protecting the environment and supporting sustainable development.
Subicwater was the first in Southeast Asia to use a public-private partnership model in the water sector. It provides 24/7 water service to more than 50,000 customers in the Freeport and Olongapo City.
The company posted a record net income of P291.4 million in 2024, a sharp increase from P26.4 million in 2023. This growth was driven by better efficiency and expanded services.