Manila Water Co. Inc. said Friday its unit signed a water supply agreement with Tubig Pilipinas Group Inc. and San Jose City Water District to provide potable water in San Jose City, Nueva Ecija.
Manila Water said in a disclosure to the stock exchange the joint venture agreement between Manila Water Philippine Ventures Inc., Tubig Pilipinas and SJCWD covers the design, construction, rehabilitation, maintenance, operation, financing, expansion and management of the water supply and sanitation facilities and services in San Jose City.
The agreement was finalized after the consortium obtained a 25-year contract in December 2018.
Manila Water earlier said the whole project would require a capital expenditure of more than P1.4 billion during the 25-year period.
The San Jose water project is estimated to have a billed volume of about 21 million liters per day by the end of the 25-year contract.
MWPVI is a wholly-owned subsidiary of Manila Water. Manila Water formed the unit to serve as the vehicle for expansion within the Philippines. It has projects in Clark, Cebu, Boracay, Laguna, Bulacan, Leyte, Davao and Pangasinan.
Manila Water said last month its consortium with French water distributor Saur Group and Saudi’s Miahona Company bagged a water deal with National Water Company in Saudi Arabia.
The seven-year agreement covers the implementation of enabling projects and the management of the water and wastewater facilities and systems of the North West Cluster served by National Water Company.
The cluster includes the cities of Madinah and Tabuk, comprised of 300,000 square kilometers of land area, with more than 3 million population.
Manila Water also has projects in Vietnam and Indonesia.
The share price of Manila Water closed lower by P0.040 on Friday to P16.76.