AYALA-LED Manila Water Co., Inc. said one of its units had signed and executed a contractual joint venture agreement with Pagsanjan Water District to handle, among others, the maintenance and upgrade of the town’s water supply and sanitation facilities.
In a disclosure to the stock exchange, Manila Water said Laguna AAAWater Corp. had closed the agreement as the contractor or agent of the water district.
Upon completion of conditions precedents set out in the deal, Laguna Water and the water district will execute the project for a period of 16 years until Sept. 30, 2035 with a full potential billed volume of 9.57 million liters per day.
Under the agreement, the Pagsanjan water district “grants Laguna Water the exclusive right to implement the design, construction, rehabilitation, operation, maintenance, financing, expansion and management of water supply services and sanitation services in the former’s service area,” Manila Water said in a statement.
“Aside from improving the water operations, the joint venture will make sanitation and environmental services, such as septage management, available and accessible to its concessionaires, thus, ensuring protection of the environment and promoting good health and well-being of communities,” it added.
Laguna Water is a unit of Manila Water Philippine Ventures, Inc. (MWPV), a wholly owned subsidiary of the listed firm.
Manila Water quoted MWPV President Virgilio C. Rivera, Jr. as saying that the joint venture is a testament of what can be achieved when the private and the public sectors work together.
“Laguna Water commits to deliver 24/7 water supply that is compliant with the 2017 Philippine National Standards for Drinking Water. The (joint venture agreement) is also seen to reduce water losses and increase water pressure through various network rehabilitation projects. To ensure provision of quality services, Laguna Water will develop additional ground water sources to meet rising demands, expand its water network to cover all communities in Pagsanjan, and implement sanitation programs to comply with various Philippine laws and regulations,” Manila Water said.
On Tuesday, shares in Manila Water rose 0.18% to close at P27.20 each. — Victor V. Saulon

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