Manila Water to acquire WawaJVCo for P38B

Manila Water Company Inc. will take complete control of the Wawa Bulk Water Supply Project through the acquisition of 100 percent of WawaJVCo from Prime Infrastructure Inc. and minority shareholders for nearly P38 billion.

The water firm's stock exchange disclosure stated the deal is expected to close in August.

Once completed, this acquisition 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.

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 the Metropolitan Waterworks and Sewerage System and Manila Water, covering 518 MLD from 2020 to 2050.

Prime Infra president and CEO Guillaume Lucci stated that the transaction underscores Prime Infra's strategic commitment to the water sector and will enhance system integration, operational efficiency, and service delivery.