MANILA Water Co., Inc. and its wholly owned subsidiary Manila Water Philippine Ventures, Inc. signed a concession agreement with the provincial government of Pangasinan for a bulk water supply project to help meet the water requirements of the province.
In a disclosure on Monday, Manila Water said the project has an estimated capital expenditure of P8 billion over a 25-year contract period. It is estimated to deliver a billed volume of 200 million liters per day by the final year.
It will provide water to approximately 1.4 million residents across 14 cities and municipalities in Pangasinan, including Villasis, Urdaneta, Malasiqui, Dagupan, Mangaldan, Sta. Barbara, Calasiao, Mapandan, Manaoag, San Carlos, Binmaley, Lingayen, San Jacinto, and San Fabian.
The project will create an infrastructure that will source water from Agno River using the riverbank filtration technology to increase water supply in the province.
It is also the first bulk water supply project in the province and in the region.
“This is an investment for the more than 3 million Pangasinenses and that apart from water supply, it will generate jobs and more economic avenues for the province,” said Pangasinan Governor Amado I. Espino III in a statement.
Manila Water brings water and wastewater services to the east zone of Metro Manila and Rizal province. Its subsidiary Manila Water Philippine Ventures serves key metropolitan areas in Batangas, Laguna, Bulacan, Pampanga, Boracay, Iloilo, and Samar.
On Monday, Manila Water shares increased by 1.17% or 30 centavos to close at P25.90 apiece. — Luisa Maria Jacinta C. Jocson