Manila Water unit bags Cebu bulk water concession

Posted at 12/16/2013 12:11 PM | Updated as of 12/16/2013 12:11 PM

MANILA, Philippines - Manila Water said its subsidiary has bagged the contract for the bulk supply of water in metropolitan Cebu.

In a disclosure to the stock exchange, Manila Water said Cebu Manila Water Development, a joint venture company of Manila Water Consortium and the provincial government of Cebu, has received the notice of award for the bulk supply of water for metropolitan Cebu.

The CMWD and MWCD will sign a 20-year water purchase agreement for the supply of 18 million liters per day of water for the first year. This will go up to 35 million liters per day starting the second year up to the 20th year.

"Initial delivery of water is expected 6 months from the signing of the water purchase agreement," Manila Water said.

Boracay water rates

At the same time, Manila Water said new water rates will be imposed in Boracay.

"The new water rates of Boracay Island Water Company Inc., a subsidiary of Manila Water Company, have been approved by the Tourism Infrastructure and Enterprise Zone Authority Regulatory Office," the company said.