MANILA WATER Co., Inc. said Marikina had granted the Ayala-controlled water concessionaire the certificate of acceptance and grant of original proponent status to build and operate the city’s integrated waste management facility.
It told the stock exchange Thursday that it had received the certificate dated July 22, 2019 from the office the mayor “to treat and process the city solid waste of Marikina City.”
It added that Manila Water’s wholly-owned subsidiary, Manila Water Total Solutions Corp., submitted an unsolicited proposal to build and operate the facility through a joint venture arrangement.
“The Certificate granted by the City of Marikina authorizes the commencement of detailed negotiations with respect to the terms and conditions of the project,” it said.
Manila Water disclosed last month that it signed and executed a joint venture agreement (JVA) with the Calbayog City Water District to handle the city’s water system through a project with estimated capital expenditure of P1.197 billion.
Manila Water, through its wholly owned subsidiary, Calbayog Water Co., Inc. and the water district are to execute the project for 25 years from start date as defined in the JVA. The water system is estimated to deliver a potential billed volume of 28.48 million liters per day by year 2043.
Also last month, the company forged a similar JVA with the Lambunao Water District to handle the water system of Lambunao town in Iloilo province in a 35-year project that will entail a capital expenditure of P78.98 million. The project is estimated to deliver a potential billed volume of 2.93 million liters per day by 2054.
Both deals cover the design, construction, rehabilitation, maintenance, operation, financing, expansion and management of the water system in the areas. The handling of the wastewater system is included in the Calbayog City project.
On Thursday, Manila Water fell 2.13% to P23. — Victor V. Saulon