Pangilinan-led Metro Pacific Investments Corp. (MPIC) has inked a deal with the Dumaguete City Water District (DCWD) for the development of the latter’s wastewater facilities for P1.62 billion.
MPIC told the Philippine Stock Exchange on Wednesday that it has formed a joint venture company with DCWD. The venture will manage rehabilitation, operations, maintenance, and expansion of DCWD’s existing water distribution system and development of wastewater facilities.
MPIC and DCWD will undertake the project for a contract of 25 years.
MPIC said P700 million of the total investment will be sourced from an initial equity investment.
DCWD currently supplies 38 million liters per day (MLD) of potable water to more than 32,000 customers in Dumaguete City and portions of the municipalities of Valencia, Sibulan and Bacong.
As of 2019, the estimated population in the service area of DCWD is 165,984 and is expected to grow to over 242,000 by 2044.
In May 2018, MPIC said it received the notice of award from the DCWD to enhance water and wastewater services in Dumaguete City.
Housing is probably the biggest issue affecting people the world over.
Malacañang on Monday called for a more thorough investigation into the questioned flood control projects in Taguig…
The defense on Monday backed the move by senator-judges to exclude a prosecution witness who testified on the firearms…
