Manila Water Philippine Ventures, Inc. (MWPV), a wholly-owned subsidiary of Manila Water Co. Inc., renews agreement with Metropolitan Cebu Water District.
MWPV said the 10-year deal will provide clean surface water in Cebu.
MWPV to supply MCWD with 30,000 liters of surface water per day. Initial price: P58 per cubic meter for 5 years, with 10-12% annual increase afterward.
Manila Water, Cebu renew supply agreement
Jan 31, 2024 01:43 AM
At a glance
Manila Water Philippine Ventures, Inc. (MWPV), a wholly-owned subsidiary of Manila Water Co. Inc., has renewed its agreement with the Metropolitan Cebu Water District, following the conclusion of their previous contract last year.
In a disclosure made to the Philippine Stock Exchange (PSE) on Wednesday, Jan. 31, the MWPV said the company entered into a 10-year agreement to extend its provision and distribution of clean surface water in Cebu.
This was followed after the termination of their previous decade-long bulk water contract to deliver supply to residential, commercial, and industrial areas by water tankers.
In the new agreement, MWPV will provide the Metropolitan Cebu Water District (MCWD) with 30,000 liters of surface water per day for a duration of 10 years.
The initial price is set at P58 per cubic meter for the first five years, with a subsequent annual increase of 10 percent to 12 percent for the following five years.