Monday, February 6, 2012

News Update Manila Water and partners bag Cebu project

A Manila Water Co. Inc.-led consortium won the contract to develop, operate and maintain a bulk water system in Cebu province.
Manila Water told the Philippine Stock Exchange on Monday that the project involves supplying 35 million liters per day of potable water from the Luyang River in Carmen.
The project will partly cover the demands in the northern and central parts of Cebu.
Other members of the consortium are Vicsal Development Corp. and Stateland Inc.
Manila Water noted that the Cebu project does not exceed 10 percent of its total assets.
Last December, Manila Water announced it acquired 49 percent in the "largest private bulk water supplier in the southern part of Vietnam."
Through subsidiary Thu Duc Water Holdings Pte. Ltd., Manila Water said it signed an agreement with Ho Chi Minh City Infrastructure Investment Joint Stock Company to buy its 49-percent stake in Thu Duc Water BOO Corp.
TDW BOO is a Vietnamese joint stock company established in 2004.
"It has a bulk water supply contract with the Saigon Water Corp. with a minimum billed volume of 300 million liters per day," Manila Water said.
Also, last November, Manila Water said it signed an agreement to acquire 100 percent of outstanding capital stock of Clark Water Corp., the water concessionaire for the Clark Freeport Economic Zone in Pampanga.
Manila Water, which supplies water to Metro Manila's east zone, intends to expand outside its concession. It is also seeking projects in India. — CMA/VS