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Tuesday, August 01, 2006
Manila Water enters into contract with MCWD
Manila Water Company Inc. announced during its regular briefing with analysts that they have signed the terms of an agreement with the Metropolitan Cebu Water District (MCWD) for the Water Supply Project in May 2006.
This project will supply some 46 million liters per day (MLD) of treated water to 1.5 million residents in Metro Cebu and will provide its first major surface water source.
The company is leading a consortium composed of both local and foreign investors.
This is a build-operate-transfer project that will be subject to a Swiss challenge to be conducted before the end of the year.
The company marks its 9th year of business operation.
“The financial results enabled the company to invest P18.7 billion in the past nine years,” Manila Water President Antonio T. Aquino said.
Total new pipelines laid now stands at 1,440 kilometers. For this year alone, P4.5 billion has been allocated for expansion projects to the high growth areas of Taguig, Antipolo, Taytay, Cainta, San Mateo, Montalban, Angono, Binangonan, Baras and Jala-jala.
Manila Water is also increasing its investments in wastewater treatment.
Wastewater
“We shall pursue growth opportunities beyond our concession area where water and wastewater services are badly needed,” Aquino added.
Consequently, billed volume has more than doubled to 933 MLD, from only 440 MLD when it started operations nine years ago.
About 893,000 out of the company’s additional population served came from the poorer sector through its flagship program “Tubig Para Sa Ba-rangay” or Water for the Poor Communities.
Manila Water has demonstrated that sustainable development initiatives are perfectly aligned with its business objectives.
Aquino added “with Manila Water Co.’s success and experience in providing water to the East Zone, we believe that our objective to provide a sustainable source of water can be shared with our fellow Filipinos in other areas. Thus we are looking at opportunities in Metro Cebu and other cities and towns in the country.”
Consortium
Sherisa P. Nuesa, lead representative of the Manila Water led consortium said “the price proposal of the consortium is based on the actual terms and conditions agreed upon with MCWD as reflected in the Bulk Water Supply Agreement.”
She added, “these are based on our actual experience with Manila Water Co. Inc., an Ayala subsidiary, which has a proven track record in the water industry.”
The consortium has the commitment of a highly respected Cebuano group to join the consortium. They will be joined by another strong international name in the industry, she said.
“Ayala is a long time investor in Cebu and we consider ourselves locals here. We have invested a significant amount in the Metropolis,” Nuesa added. (PR)
For Bisaya stories from Cebu. Click here. (August 1, 2006 issue)
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