AYALA AF­FIL­I­ATE INKS 25-YR DEAL WITH OBANDO WA­TER DIS­TRICT

Philippine Daily Inquirer - - BUSINESS - —RONNELW. DOMINGO

Ayala group af­fil­i­ate Obando Wa­ter Co. Inc. (OWCI) signed with the Obando Wa­ter Dis­trict (OWD) a 25-year con­ces­sion agree­ment to build, op­er­ate and man­age wa­ter fa­cil­i­ties and pro­vide ser­vices in that Bu­la­can town.

This brings into mo­tion a part­ner­ship deal with OWD for the set­ting up a P98-million joint ven­ture com­pany, which is OWCI.

Obando Wa­ter Con­sor­tium Hold­ings Corp.—a sub­sidiary of Manila Wa­ter Co. Inc.—has a 90-per­cent stake in or P88.2 million of the out­stand­ing cap­i­tal stock of OWCI.

Obando Wa­ter is a con­sor­tium of Manila Wa­ter and its wholly owned sub­sidiary, Manila Wa­ter Philip­pine Ven­tures Inc., with the lat­ter hold­ing 51 per­cent of the is­sued and out­stand­ing cap­i­tal stock.

Obando Wa­ter and OWD ear­lier an­nounced the sign­ing of a joint ven­ture agree­ment to im­prove the pro­vi­sion of wa­ter sup­ply and san­i­ta­tion ser­vices in the town of Obando.

OWD’s ser­vices cover nine barangays with about 50,000 res­i­dents.

The part­ner­ship was set to un­der­take the de­sign, con­struc­tion, re­ha­bil­i­ta­tion, op­er­a­tion, main­te­nance, fi­nanc­ing, ex­pan­sion and man­age­ment of wa­ter fa­cil­i­ties.

Fur­ther, through a con­ces­sion agree­ment, the joint ven­ture is also in­tended to de­liver wa­ter and san­i­ta­tion ser­vices in Obando.

Through OWCI, the part­ners plan to im­ple­ment im­prove­ment pro­grams that “will soon en­able cus­tomers to en­joy safe, re­li­able, con­tin­u­ous wa­ter sup­ply 24hours, seven days a week.”

Also, Obando Wa­ter will en­sure in­creased ac­cess to wa­ter sup­ply and san­i­ta­tion ser­vices, which. will al­low the wa­ter dis­trict to serve more house­holds and com­mer­cial cus­tomers.

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