• By The Financial District

BALAGTAS WATER AWARD REVOKED

Manila Water Company today disclosed that its 25-year concession award with Balagtas, Bulacan amounting to P400 million has been revoked.

In a disclosure to the Philippine Stock Exchange, MWC said that Notice of Award granted to the consortium of Manila Water Company, Inc. and Manila Water Philippine Ventures, Inc. (the “Consortium”), MWC said it "accepted today the decision of Balagtas Water District (BWD) to revoke and terminate the Notice of Award. Manila Water Philippine Ventures, Inc. is a wholly-owned subsidiary of Manila Water Company, Inc."


Two years ago, Manila Water bared that it continued to make waves locally when its wholly-owned subsidiary Manila Water Philippine Ventures received the notice of award from the Balagtas Water District for a 25-year concession which would implement water and used water projects amounting to PhP 400 million in Balagtas, Bulacan.


The project focused on the design, construction, rehabilitation, operation, maintenance, financing, expansion and management of the water supply system of the water district, as well as the provision of water and sanitation services.


Manila Water, together with Manila Water Philippine Ventures and the Balagtas Water District, were to form a joint venture company to ensure the successful implementation of the project which aimed to provide 22 million liters of water per day to the customers of the water district.


This was to be Manila Water Philippine Ventures’ fifth successful negotiation in the Province of Bulacan, and would have expanded its presence in Pulilan, San Ildefonso, Sta. Maria, Malolos City, Obando, then supposedly in Balagtas.


In 2017 it started to provide the water supply needs of subdivisions developed by Asian Land Strategies Corporation, Solar Resources Inc. and Borland Development Corporation through its operating unit, Bulacan Water.


In the same year, it was also granted a concession agreement for the water supply provision in Obando through a joint venture agreement with Obando Water District.



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