Manila Water gets contract for Calbayog City

MANILA WATER Co., Inc. said on Thursday that it had received the notice of award from the Calbayog City Water District (CCWD) to manage the area’s water and wastewater systems under a 25-year contract.
In a disclosure to the stock exchange, the Ayala-led company said the project is through a joint venture with the water district and will cover “the design, construction, rehabilitation, maintenance, operation, financing, expansion, and management of the water and wastewater systems” of the city.
The company said upon completion of the conditions precedent specified in the notice, it would enter into a joint venture agreement with the CCWD to implement the project, which has an estimated capital expenditure of P1.165 billion during the contract period.
“It is estimated to deliver a potential billed volume of 30 million liters per day,” Manila Water said.
The award follows Manila Water’s disclosure on Wednesday that its consortium with its wholly owned subsidiary Manila Water Philippine Ventures, Inc. and Tubig Pilipinas Group, Inc. had bagged the development of the water district of San Jose City in Nueva Ecija.
The notice of award from the province’s San Jose City Water District-Nueva Ecija covers “the implementation of the joint venture project for the design, construction, improvement, upgrade, rehabilitation, maintenance, operation, financing, expansion, and management of the water supply system and the provision of water and sanitation services.”
The listed company said the project has an estimated capital expenditure program of more than P1.399 billion over a 25-year contract period. By year 25, the water project is estimated to have a billed volume of about 21 million liters per day.
On Thursday, shares in Manila Water climbed 2.41% to close at P27.60 each. — Victor V. Saulon