Manila Water Co. Inc. subsidiary Manila Water Philippine Ventures Inc. (MWPV) has signed a new 10-year contract with the Metropolitan Cebu Water District (MCWD) to deliver water services at the premier city in the Visayas.
This developed following an earlier termination of the agreement with MCWD in December last year.
Manila Water told the Philippine Stock Exchange that the agreement calls for the supply and delivery of potable water in the largest metropolitan area outside of Metro Manila.
Details to the agreement were not disclosed.
Only in December last year, the Cebu Manila Water Development Inc. (CMWD) terminated its bulk water supply contract with MCWD.
CMWD is a joint investment of Manila Water Consortium Inc. and the provincial government of Cebu. Manila Water Consortium Inc. is a subsidiary of MWPV which is a wholly owned subsidiary of Manila Water.
Cebu governor Gwendolyn Garcia said that under the first agreement with the MCWD, the CMWD was paid a fixed rate of only P24.59 per cubic meter for 20 years or until 2034 and operated at a loss for many years as the allowed tariff clearly proved insufficient to sustain the CMWD’s operations.
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 has partnerships with water districts in Tagum, Davao del Norte; Bulacan; Clark in Pampanga; San Jose in Nueva Ecija; Laguna; Boracay in Aklan; as well as with property developers through Estate Water.
Manila Water also has operations in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
