EAST ZONE concessionaire Manila Water Co., Inc. expects to complete the takeover of the Wawa Bulk Water Supply from its parent company, Prime Infrastructure Capital, Inc. (Prime Infra), by September.
In a disclosure on Monday, Manila Water said it has signed a share purchase agreement with Prime Infra to buy Prime Infra’s stake in WawaJVCo, Inc.
This agreement follows a previously signed term sheet between the two companies for full ownership of WawaJVCo, involving the acquisition of common and non-voting preferred shares valued at P37.8 billion.
Manila Water said it will make an initial payment of P6.11 billion on Dec. 15.
Trident Water Company Holdings, Inc., a subsidiary of Prime Infra, controls Manila Water.
WawaJVCo, a joint venture between Prime Infra and San Lorenzo Ruiz Builders & Developers Group, was established to develop, operate, and maintain the Wawa Bulk Water Supply Project in Rizal, which is intended to augment Metro Manila’s raw water supply.
The company’s portfolio includes the Tayabasan Weir in Antipolo, which has been operational since October 2022 with a capacity of 80 million liters per day (MLD), and the Upper Wawa Dam in Rodriguez, Rizal, with a capacity of up to 710 MLD.
In 2019, WawaJVCo signed a 30-year bulk water supply agreement with the Metropolitan Waterworks and Sewerage System and Manila Water for the supply of 518 MLD of water until 2050.
WawaJVCo earlier said the Upper Wawa Dam is slated to commence commercial operations in December and is expected to benefit over 700,000 households.
Meanwhile, Manila Water is on track to complete its P932-million San Juan Reservoir project in Quezon City by the third quarter of 2026 to bolster water supply reliability.
As of July, the project has reached 26.9% completion.
Situated along N. Domingo Street in Quezon City, the facility is designed to store up to 56 million liters (ML) of water and withstand earthquakes measuring up to magnitude 7.2.
To stay on schedule, the company is conducting excavation and lean concreting, rebar fabrication for Phase 1 Mat Foundation, and installation of Mat Foundation rebar.
It has also installed acoustic barriers to reduce noise and other construction-related disturbances.
The new facility replaces the original reservoir built in 1968 and incorporates modern engineering standards, including upgraded electrical, instrumentation, mechanical, and site development systems.
“The San Juan Reservoir is more than just a new facility. It’s a forward-looking investment in resilience and reliability. As our cities continue to grow, we must ensure that our infrastructure keeps pace,” said Manila Water Communication Affairs Group Director Jeric T. Sevilla.
“This project reflects Manila Water’s commitment to safeguarding water supply for our communities, even in the face of natural disasters like major earthquakes,” he added.
Manila Water serves the east zone of Metro Manila, covering parts of Marikina, Pasig, Makati, Taguig, Pateros, Mandaluyong, San Juan, portions of Quezon City and Manila, and several towns in Rizal province.
The company recently said it had surpassed 7.8 million customers, driven by expansion projects implemented during the first four months of the year. — Sheldeen Joy Talavera
