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Razon’s Prime Infra on expansion mode

Catherine Talavera (The Philippine Star) - June 12, 2021 - 12:00am

MANILA, Philippines — Razon-led Prime Infrastructure Holdings Corp. is confident its subsidiary’s acquisition of a controlling stake in Manila Water Co. Inc.  will bolster its bid to expand in both  international and domestic markets.

“The Prime Infra management team will work hand in hand with existing Manila Water shareholders to seek expansion opportunities both in the Philippines and abroad,” Prime Infra said.

“This acquisition, together with the ongoing flagship Wawa bulk water supply project, builds up Prime Infra’s water market presence as the leading bulk water supplier and distribution utility operator in the Philippines,” Prime Infra said.

In line with the transaction, businessman Enrique Razon was appointed president and CEO of Manila Water, and was also named as chairman of the board effective June 3.

Prime Infra is the infrastructure arm of the Razon Group focused on providing reliable, resilient and sustainable infrastructure to build better lives and resilient economies.

“The acquisition of a controlling stake in Manila Water, a leading player in the water and wastewater industry in the region, is a major milestone in our efforts to grow our company and capture future demand both in the domestic and international markets,” said Guillaume Lucci, president of Prime Infra.

Apart from water, Prime Infra’s assets also include sustainable energy and construction, and will soon expand to other industries as part of its commitment to bring and improve services to communities around the world.

“Prime Infra is part of a dynamic and fast-growing group of companies that have successfully brought the Filipino brand to the world. It is then only a logical move for us to take the leap into becoming a global Filipino water company by focusing on strategic and scalable water businesses, leveraging on our group’s vast network, experience and resources,” said Razon,  chairman of Prime Infra.

The Metropolitan Waterworks and Sewerage System (MWSS) earlier welcomed the change of leadership in east zone concessionaire Manila Water, saying the appointment is timely with the recent signing of a revised concession agreement (RCA).

“With the new concession agreement signed, we look forward to working more closely with Manila Water to better serve the people. It is a very timely appointment,” MWSS chairman Reynaldo Velasco said.

Manila Water currently serves the east zone, covering parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila as well as several towns in Rizal.

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