By Anna Gabriela A. Mogato
Manila Water Philippine Ventures, Inc. (MWPV), a wholly-owned subsidiary of Manila Water Company, Inc., set a capital expenditure of P742 million for its newly-bagged 25-year franchise to provide water services to San Fabian, Pangasinan.
In a disclosure to the stock market on Tuesday, MWPV announced it received a notice to proceed from the local government unit which granted the subsidiary a franchise to “establish, construct, operate, manage, repair, and maintain water supply system and facilities” in the municipality starting 2019.
The disclosure acknowledged Manila Water’s existing concession agreement to manage the water supply system of Calasiao, located to the southwest of San Fabian.
Under the new deal, MWPV will have an assumed billed volume of 12.6 million liters per day by the end of its 25-year franchise.
The franchise will also include the provision to handle the town’s septage management.