MetroPac Water Investments Corp. (MWIC), the water utility unit of Metro Pacific Investments Corp. (MPIC), is in talks to acquire Prime Water Infrastructure Corp., an executive said Wednesday.
“Yes, we’re talking, but nothing definite yet,” MWIC president Andrew Pangilinan said in a text message.
Prime Water has faced numerous customer complaints in recent months, including issues with intermittent supply and low water pressure.
The company has joint venture agreements with more than 70 water districts across the Philippines, including Bulacan and Cavite provinces.
Malacañang earlier received complains on Prime Water’s services.
MWIC operates more than 700 projects in the Philippines and Vietnam. In the Philippines, it has over 530,000 customers and 85,000 service connections, with a billed volume of 359 million liters per day.
Its major projects include water distribution in Dumaguete and Iloilo, bulk water supply in Cagayan de Oro and Iloilo and industrial water projects in Vietnam.
MWIC is a sister company of Maynilad Water Services Inc., with both firms falling under the Metro Pacific group.
The Ayala group previously divested its stake in Manila Water Co. Inc. after former President Rodrigo Duterte threatened legal action against Manila Water and Maynilad over alleged “onerous” concession agreements.
