Razon-led East zone water concessionaire Manila Water Co. reported that it is taking full ownership of the recently completed Wawa Dam, a move that would help augment Metro Manila’s water demand.

In a disclosure to the Philippine Stock Exchange on Monday, June 30, Manila Water said it acquired 100 percent ownership interest in Wawa JVCo, a unit of Razon-led Prime Infrastructure, Inc., through a ₱37.8 billion purchase price.

“The acquisition, once completed, will be financially accretive to Manila Water and is strategically aligned with its long-term water security plans for Metro Manila’s East Zone,” it said in a statement.

The company is also expecting that this takeover will improve overall operations through an integrated approach to water distribution within its network.

The Wawa Bulk Water Supply Project was also designed to help reduce dependence on the Angat Dam, which primarily supplies Metro Manila’s water needs.

“Vertically integrating this asset into Manila Water will yield positive financial benefits, optimize end-to-end water delivery operations, and enhance the overall resilience and sustainability of its water supply system,” it added.

”The acquisition, when completed, will ensure a credible, consistent, and stable source of raw water for Manila Water’s East Zone service areas. This will enable the company to support future growth and expand service.”

Wawa JVCo was created in 2019 to develop, operate, and maintain the supply project, including the Tayabasan Weir in Antipolo and the Upper Wawa Dam in Rodriguez, Rizal Province, with a 712 million liter per day (MLD) capacity.

The Prime Infra unit has a 30-year bulk water supply deal with the Metropolitan Waterworks and Sewerage System (MWSS) and Manila Water to supply consumers with 518 MLD until 2050, as the facility transports water to the downstream Calawis treatment facility.