December 6, 2018
ILOILO CITY, Philippines – Metro Pacific Water (MPW) the wholly-owned subsidiary of Metro Pacific Investments Corp. (MPIC), finalized on December 6 the joint venture project with Metro Iloilo Water District (MIWD).
The ceremonial signing of the joint venture agreement, held at Grand Xing Imperial Hotel, paves the way for the 25-year concession for the rehabilitation, expansion, and improvement of the water distribution system and wastewater management facilities of MIWD.
“Metro Pacific Water ‘s partnership with the Metro Iloilo Water District seeks to contribute to the continuing progress Iloilo City’s competitive index by providing clean and sustainable water supply.” said Jose Maria K. Lim, president of Metro Pacific Investments Corporation. He pointed out that the JVA is a testament of MPIC’s commitment to be Iloilo’s partner for progress.
As the country’s leading infrastructure investment company with interest across major infrastructure sectors, MPIC commits to bring with its expertise to create innovations in infrastructure that advance the economy and impact the lives of millions of people. The collaboration will usher the much-needed improvement in terms of efficient water sanitation services, water supply stability, and provision of septage and wastewater management services here.
Senator Franklin M. Drilon also attended the event as the guest of honor. He said in his message “At last we have a solution. Now we will be relying on MetroPac to be able to provide us not only the relief that the Ilonggos are looking for but also progress.”
The cost of the concession is estimated at P12.35 billion, with an initial equity investment of P600 million in 2018. The joint venture project covers the rehabilitation, upgrading, expansion, operation and maintenance of MIWD’s distribution facilities. It also includes the provision of septage and wastewater management services and additional water supply in excess of currently contracted bulk water supply with Metro Iloilo Bulk Water Supply Corporation (MIB).
According to Ramoncito Fernandez, director of Metro Pacific Water and president of the Metro Manila West Concessionaire, Maynilad, the partnership will expand MIWD’s current service coverage and secure the access to safe and potable water of around 1.4 million people living in Metro Iloilo in the next 25 years. By bringing the lessons and experience from Maynilad, Fernandez hopes that the Metro Iloilo Water Concession becomes a key player in the progress of Iloilo City and the province.
“We will start these efforts by upgrading the existing facilities of Metro Iloilo Water District, investing in new pipelines, technology and people, and building new facilities toward the improvement of the services of the local water utilities,” Fernandez said.
MIWD service areas include Iloilo City and the municipalities of Pavia, Oton, Maasin, Cabatuan, Sta. Barbara, Leganes, and San Miguel.