Philippines: Metro Pacific bags $246m joint water project

A unit of Metro Pacific Investment Corp (MPIC) is launching a joint venture company with Metro Iloilo Water District (MIWD) for the rehabilitation and expansion of the latter’s existing water distribution business pegged at $246 million (P12.35 billion).

MPIC disclosed on Thursday (December 21) that its subsidiary MetroPac Water Investments Corp officially received from MIWD the Notice of Award for the rehabilitation, operation, maintenance, and expansion of MIWD’s existing water distribution system and construction of wastewater facilities.

“The project cost for the duration of the 25-year concession is estimated at P12.35 billion, with an initial equity investment of P600 million in 2018,” MPIC said in its statement.

The joint venture corporation to be created shall implement the project including the right to bill and collect tariff for the water supply and wastewater services provided to the customers in the service area of MIWD.

MIWD’s service area includes Iloilo City and seven municipalities specifically Pavia, Oton, Maasin, Cabatuan, Sta. Barbara, Leganes, and San Miguel.

As of 2017, the estimated population in the service area of MIWD is 844,618.

Also Read:

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.