MANILA, Philippines - Ayala-led Manila Water Co. Inc. has signed a joint venture agreement with Zamboanga City Water District (ZCWD) for a 10-year non-revenue water reduction project.
Under the agreement, Manila Water shall own 70 percent of the joint venture company while ZCWD shall own 30 percent.
A service agreement would still have to be executed between the joint venture firm and ZCWD before the project can commence.
The ZCWD formally awarded the water loss reduction project to Manila Water on Dec. 19, 2014, following the signing of a memorandum of understanding in June 2010 for the development, implementation, financing and operation of the project that would cover 98 villages in Zamboanga City.
Manila Water executives earlier said along with the company’s efforts to expand its presence overseas, it would continue to seek out projects in provinces that have economically viable population concentration for providing water, wastewater and water loss reduction services.
In December 2013, the company was awarded the bulk water contract by Metropolitan Cebu Water District.
Outside its main concession area in Metro Manila, the company also has strong presence in Boracay Island, Laguna and Clark Freeport Zone.
The company, however, still derives most of its income from its Metro Manila east zone concession area that covers parts of Quezon City and Makati, the southeastern parts of Manila, Taguig, Pateros, Marikina, Pasig, San Juan, Mandaluyong and Rizal province.