MANILA WATER Company, Inc. on Monday said it bagged a P800-million water project in Ilagan City, Isabela.
In a disclosure to the stock exchange, the listed company said it received on Jan. 26 the notice of award from the City of Ilagan Water District (CIWD) for a joint venture project for the development and management of a raw water source, provision of bulk water supply and septage management in the city.
After completing the conditions specified in the notice, the consortium, composed of Manila Water and its subsidiary Manila Water Philippine Ventures, Inc. (MWPV), and CIWD will sign a deal to establish the joint venture company.
The joint venture company will then ink a bulk water sales and purchase agreement, and septage management agreement with the CIWD.
Manila Water said the bulk water project is estimated to require over P600 million in capital expenditures (capex), while the septage management component will need nearly P200 million.
“The bulk water supply facilities, when completed and operational by 2020, shall supply treated bulk water to the CIWD of up to 30 million liters per day (MLD),” the company said.
The septage management component is expected to be operational by 2021.
Meanwhile, MWPV subsidiary Laguna Water in a separate statement said it is allocating P1.2 billion this year to improve its water supply network and facilities in the province. Laguna Water is a public-private partnership between the Laguna provincial government and Manila Water.
Laguna Water said it will invest in “various water source development; water network expansion, improvement, and rehabilitation; water service reliability projects; and water facility upgrades.”
The company said it will also begin offering used water services. Its sewage treatment plant in Laguna Technopark, which has been upgraded, will use Organica Food Chain Reactor technology for the treatment of domestic used water.
Shares in Manila Water were unchanged at P28.50 each. — AGAM