CEBU CITY, Philippines – Vivant Hydrocore Holdings Inc. (VHHI), a subsidiary of Vivant Corp., has announced its exit from a joint venture with Israeli company WaterMatic International Ltd., effective last Friday.
The move is part of VHHI’s streamlining effort and focus on growth initiatives in the water infrastructure sector.
In a statement released over the weekend, VHHI emphasized the dissolution of the partnership would enable the company to concentrate on expanding its operations and exploring new opportunities in the water market. But the partners expressed an openness to future collaborations in tackling water security challenges down the line.
The joint venture, established in 2019, saw the creation of Watermatic Philippines Inc. engaged in the design, installation, and maintenance of water treatment facilities. Watermatic Philippines is spearheading the construction of VHHI’s seawater desalination plant in Cordova, Cebu designed to produce 20 million liters of water per day.
Vivant Corp. reassured stakeholders the exit from would not impact the timeline of the desalination project. The construction is governed by a separate contract, ensuring that the facility remains on track for completion by the end of the year. Once operational, the desalination plant provides a sustainable and climate-resilient water source for approximately 20,000 households in Metro Cebu.
Vivant is also a significant player in the power sector, boasting a capacity of around 382 megawatts. The company is recognized as one of the largest energy providers in off-grid areas of the country.
As the Philippines grapples with water security issues, Vivant’s continued development of innovative solutions underscores its commitment to addressing these challenges and enhancing the sustainability of water resources in the region.
