Manila Water Co. is taking full control of the Wawa Bulk Water Supply Project through the planned acquisition of 100 percent of WawaJVCo from Prime Infrastructure, Inc. — another firm led by businessman Enrique Razon Jr. — and minority shareholders.
The water firm said in a Monday stock exchange disclosure that the deal, valued at nearly P38 billion, is expected to close in August.
Once completed, it will allow Manila Water to fully integrate the Wawa Dam system into its network, boosting operational efficiency, reducing costs, and securing a long-term raw water source for Metro Manila’s East Zone.
“This transaction underscores Prime Infra’s strategic commitment to the water sector. By consolidating our assets under Manila Water as our core water infrastructure platform, we are enhancing system integration, operational efficiency, and service delivery,” Prime Infra President and CEO Guillaume Lucci said.
WawaJVCo operates the Tayabasan Weir in Antipolo and the Upper Wawa Dam in Rodriguez, Rizal, which together can supply up to 712 million liters per day (MLD).
The company has a 30-year Bulk Water Supply Agreement with Metropolitan Waterworks and Sewerage System and Manila Water for 518 MLD through 2050.
The Upper Wawa Dam, slated for commercial operations in December, is expected to benefit over 700,000 households or 3.5 million Filipinos. The Tayabasan Weir has been operational since October 2022.
Manila Water currently sources most of its supply from Angat Dam.
The Wawa project, on the other hand, is positioned as a major infrastructure to diversify and strengthen Metro Manila’s water security.