MANILA -- Ayala-led Manila Water Co. Inc and its wholly-owned subsidiary, Manila Water Philippine Ventures, Inc. (MWPV) secured on Monday a contract to provide bulk water in the City of Ilagan, Isabela.
Manila Water told the local bourse it had received the notice of award from the City of Ilagan Water District (CIWD) for the implementation of the joint venture project for the development, financing, operation, and management of a raw water source, provision of bulk water supply with system expansion, and the development of septage management.
It expects to spend over PHP600 million for the bulk water component of the project.
The company said once completed and operational by 2020, the bulk water supply facilities shall supply treated bulk water to the CIWD of up to 30 million liters per day.
The project’s septage management component, meanwhile, will be operational by 2021, with a capital expenditure program of almost PHP200 million.
Upon completion of the conditions, the consortium and the CIWD shall enter into a joint venture agreement to establish a joint venture corporation that will implement the project.
The joint venture firm will enter into a bulk water sales and purchase agreement and septage management agreement with the CIWD. (PNA)
