THE Metropolitan Cebu Water District (MCWD) has secured a new water supplier through another subsidiary of Manila Water Co., Inc., the east-zone concessionaire said on Wednesday.
In a stock exchange disclosure, the company said that its subsidiary, Manila Water Philippine Ventures, Inc. (MWPV), has entered into a 10-year contract agreement with MCWD.
The deal is intended “for the supply and delivery of potable surface water, the company said.
The signed contract comes two months after the termination of bulk water supply contract between MCWD and Cebu Manila Water Development, Inc. (CMWD) following more than a decade.
CMWD is a joint investment of Manila Water Consortium, Inc. and the provincial government of Cebu.
In 2012, Manila Water entered into a joint investment agreement with the provincial government of Cebu for the development, operation, and maintenance of a bulk water system that will supply a minimum of 35 million liters per day (MLD) of potable water.
Meanwhile, MWPV said on Monday that it had reached out to the provincial government of Pangasinan to revive their terminated 25-year concession agreement.
The P8-billion agreement, intended to supply Pangasinan with 200 MLD of water, was signed in January 2022.
The bulk water project was supposed to create an infrastructure that will source water from Agno River using the riverbank filtration technology to increase water supply in the province.
Manila Water said that the “deemed mutually” terminated contract was due to “non-fulfillment of conditions” on the part of the provincial government of Pangasinan.
Shares of Manila Water gained 1.01% or 18 centavos to close at P17.98 each. — Sheldeen Joy Talavera