Following its confirmed 100-percent ownership of the recently completed Wawa Dam project, Razon-led Manila Water Co. Inc. has signed a share purchase agreement (SPA) with Prime Infrastructure Inc. to begin payment for the acquisition.

In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Aug. 11, Manila Water announced that it has finalized the deal to purchase Prime Infrastructure’s interests in its subsidiary, WawaJVCo.

The closing date has been moved from Aug. 29 to Sept. 30.

The payment will be made in staggered terms as part of the planned ₱37.8-billion acquisition cost.

Manila Water will make an initial payment of ₱6.11 billion by Dec. 15, with the final installment scheduled for Jan. 26, 2026.

This takeover is expected to boost the water company’s operations through additional water distribution in its network, while the Wawa Bulk Water Supply project has been developed to minimize dependence on Angat Dam.

Meanwhile, Manila Water also reported that its ₱932-million San Juan reservoir project is slated to be completed by the third quarter of next year.

Once completed, the reservoir could store up to 56 million liters (ML) of water, as well as withstand earthquakes that may go as high as magnitude 7.2.

This project is designed to bolster supply reliability for three Metro Manila cities: Quezon City, San Juan, and Mandaluyong.

Manila Water communication affairs director Jeric Sevilla emphasized the development’s steady progress, stating that, “As our cities continue to grow, we must ensure that our infrastructure keeps pace. This project reflects Manila Water’s commitment to safeguarding water supply for our communities, even in the face of natural disasters like major earthquakes.”