Water giants join forces for Cebu province project

AYALA Corp.-led Manila Water Company Inc. and Metro Pacific Water Investments Corp. of Manny Pangilinan have forged a partnership for a water supply venture outside Metro Manila, specifically in Cebu province.

Under the new partnership, Metro Pacific Water agreed to acquire 39 percent of the consortium, while Manila Water will continue to retain its majority ownership at 51 percent. The Gaisano Group holds 10 percent of the consortium.

Earlier this year, the Manila Water Consortium signed a joint venture agreement with the provincial government of Cebu to develop the first long-term bulk water supply project, which will supply clean, reliable and affordable water to its northern and central parts.

The Cebu Bulk Water Supply Project is a landmark public- private partnership project between Cebu province and two of the country’s largest conglomerates. It is expected to provide 35 million liters a day of bulk water and ad- dress the deteriorating ground water condition in the province.

“The strengths and capabilities of these new partners combine to create a distinctive value proposition to enhance water supply development in Cebu and greatly promote sustainable development of the province,” said Manila Water President and Chief Executive Officer Gerardo Ablaza Jr.