Manila Water Co. Inc. has finalized joint venture agreements with two provincial water districts for the construction, maintenance and operation of two water and wastewater projects worth P1.27 billion.
MWC said in a disclosure to the stock exchange it signed and executed a joint venture agreement with the Calbayog City Water District for the design, construction, rehabilitation, maintenance, operation, financing, expansion, and management of the water and wastewater system in Calbayog City Samar province.
The project, with an estimated capital expenditure of P1.197 billion, is expected to deliver a potential billed volume of 28.48 million liters a day by 2043.
Upon completion of the conditions set out in the joint venture agreement MWC, through its wholly-owned subsidiary, Calbayog Water Company Inc. and CCWD will execute the project for a period of 25 years
MWC and strategic partner Tubig Pilipinas Group Inc. also agreed to acquire shares in Calbayog Water.
MWC, meantime, finalised a joint venture agreement with the Lambunao Water District for the design, construction, rehabilitation, maintenance, operation, financing, expansion and management of the water system of Lambunao town in Iloilo province.
The project, set to be implemented 35 years is estimated to deliver a potential billed volume of 2.93 million liters per day by 2054. MWC said the project would cost P78.98 million.
MWC is the water concessionaire for the east zone of Metro Manila, which encompasses 23 cities and municipalities that include Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila as well as 14 towns of Rizal province.
MWC through its units also has water projects in Clark, Laguna, Boracay, Cebu, Calasiao (Pangasinan) and Obando (Bulacan).
The company MWC started implementing water projects in Vietnam.
Share price of MWC closed flat Wednesday at P25.50.