Japan's Marubeni to get 20% stake in Maynilad
TOKYO - Marubeni Corp. said Thursday it will acquire a 20 percent equity stake in Maynilad Water Services Inc., a major tap water and sewage water disposal company in the Philippines.
The Quezon-based Maynilad is the world's biggest private-sector water utility in terms of the size of a population in its service area, according to Marubeni.
Some 9.5 million, or 10 percent of the Philippines population, reside in its service area, the Japanese firm said.
Under a contract with the Philippines government, Maynilad provides running water and maintenance services for its aqueduct networks, as well as collecting fees.