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Manila Bulletin devider Business devider The Stock Market devider SBMA, DMCI's Subicwater ink 20-year franchise extension deal

SBMA, DMCI's Subicwater ink 20-year franchise extension deal

Published Apr 15, 2025 06:21 am

 

Subicwater and SBMA photo.jpg
Signing ceremony at the SBMA Corporate Boardroom on March 20, 2025. From left to right: Olongapo City Mayor Rolen Paulino Jr., SBMA Chairman and Administrator Eduardo Jose L. Aliño, Subicwater Chairman Apollo C. Tiglao, and Subicwater CEO Benjamin E. Antonio III

 

Subic Water and Sewerage Company, Inc. (Subicwater), an affiliate of DMCI Holdings Inc., and the Subic Bay Metropolitan Authority (SBMA) have signed an agreement to extend their franchise by another 20 years until March 31, 2047.

DMCI said in a statement that the agreement ensures the continued delivery and expansion of water and wastewater services in the Subic Bay Freeport Zone and Olongapo City.

“We thank SBMA for trusting us to continue serving the community. This extension helps us move closer to our goal of 100 percent wastewater service coverage in our areas,” said Subicwater Chairman Apollo C. Tiglao.

Subicwater is a joint venture of DMCI Holdings (30 percent indirect effective interest through DMCI Project Developers, Inc.), IV3 Aqua Holdings, SBMA, Maynilad Water Services, and the City Government of Olongapo. 

The renewed agreement builds on a partnership that began in 1997. Subicwater has committed to expanding both sewerage and sanitation services, especially in underserved and growing areas within the Freeport and Olongapo City.

As part of this initiative, the company will also commence sewerage services in the City of Olongapo by utilizing the existing Freeport infrastructure—strengthening the collaboration among Subicwater, SBMA and the local government.

To meet this goal, the company will invest in new infrastructure and upgrade operations to support environmental protection and sustainable development.

Subicwater was the pioneer in Southeast Asia to use the public-private partnership (PPP) model under a build-operate-transfer (BOT) setup in the water sector. It supplies 24/7 water service to over 50,000 customers in Freeport and Olongapo City.

In 2024, Subicwater posted a record net income of ₱291.4 million—up from ₱26.4 million in 2023—on the back of improved efficiency and service expansion.

Related Tags

Maynilad Water Services Inc. DMCI Holdings Inc. Subic Bay Metropolitan Authority Subic Water and Sewerage Company Inc.
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