Manila Water Co. Inc. on Thursday committed to the organic expansion of its portfolio and the East Zone of Metro Manila as it ruled out engaging in a buying spree in the years ahead.
“It doesn’t detract us from acquiring more businesses (and working) with more water boards. I think the market is there. What I’m saying is we have to carefully and more thoughtfully take a look at all of these. We just can’t be everywhere and mean everything to everyone. We are not the supermarket of water,” said Roberto Locsin, Manila Water chief administrative officer, told reporters.
He said expanding the enterprise, whether in the Philippines or overseas, requires a deliberate approach: “I think we’re on the right track. Again, water is one of those things that you have to be patient with and you don’t rush into water deals.”
Without being specific, Locsin said Manila Water sets its sight only in places with dense populations and on so-called secondary and tertiary cities.
“I can’t mention anything specific because a lot of this is still under discussion. The idea is to talk with water districts that are large enough where we can make the investment work, highly populated and make sure that the water source we can thoughtfully manage and draw from,” Locsin said.
According to him, Manila Water will continue to leverage on the Razon Group’s ports business footprint through International Container Terminal Services Inc. (ICTSI) and that it has ongoing talks with companies in Latin America and Africa as possible expansion areas.
Manila Water became an ICTSI affiliate when the Razon Group’s Trident Water Co. Holdings acquired a controlling stake in the water concession holder in 2021.
Manila Water serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, some parts of Quezon City and Manila; and several towns in Rizal province that include Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
It partners with water districts in Tagum, Davao del Norte; Bulacan; Clark in Pangasinan; Calasiao in Pangasinan; San Jose in Nueva Ecija; Laguna; Boracay in Aklan; Cebu; and with property developers through Estate Water.
Manila Water also operates in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
