Razon-led Prime Infrastructure Capital Corp. has consolidated its water-related assets in a ₱37.8 billion transaction, reinforcing its strategic foothold in the sector. Under a binding term sheet signed on 27 June, flagship unit Manila Water Co. Inc. will acquire full ownership of WawaJVCo, which is behind the Wawa bulk water supply project in Rizal province.
This development integrates Prime Infra’s major water assets into a single operating platform, with Manila Water assuming full operational control over both the operational Tayabasan Weir (80 MLD capacity) and the under-construction Upper Wawa Dam (710 MLD capacity). Commercial operations for the full system are expected by December 2025, aiming to serve over 700,000 households.
“This transaction underscores Prime Infra’s strategic commitment to the water sector,” said Guillaume Lucci, president and CEO of Prime Infra. “By consolidating our assets under Manila Water, we are enhancing system integration, operational efficiency, and service delivery.”
The consolidation brings to an end the joint venture between Prime Infra and Oscar Violago’s San Lorenzo Ruiz Builders Group, positioning Manila Water as a fully integrated water utility operator serving Metro Manila’s East Zone and key Rizal towns.
