ILOILO, Dec. 14 (PIA) -- Ilonggos can be assured of a clean, safe, and sustainable water supply.
This was underscored during the ceremonial signing of the joint venture agreement of Metro Iloilo Water District (MIWD) and Metro Pacific Water (MPW), the wholly-owned subsidiary of Metro Pacific Investments Corporation (MPIC).
"In the next two and a half decades, we project to put in more than P12.5 billion in investments towards the improvement of the water service facility to ensure that more Ilonggos will have access to clean and safe water, " MPW Director and Maynilad Water Services, Inc. President Ramoncito Fernandez said.
The agreement seeks to pave way for the 25-year concession for the rehabilitation, expansion, and upgrading of the water distribution system and wastewater management facilities of MIWD.
An estimated P12.35 billion was the cost of the franchise, with an initial equity investment of P600 million in 2018.
Jose Maria Lim, President and Chief Executive Officer of MPIC, emphasized that the partnership aims to contribute to the continuing progress of Iloilo City's competitive index.
Lim recalled that the venture was a commitment made in 2016 when they first partnered with MIWD to transport more water supply to the Ilonggo community through a 170 million litter per day (MLD) bulk water project of Metro Iloilo Bulk Water Supply Corp. (MIB).
To note, the service areas of the MIWD are composed of Iloilo City, and the municipalities of Cabatuan, Leganes, Maasin, Oton, Pavia, San Miguel, and Sta. Barbara. (LTP/LML-PIA6 Negros Occidental)