MANILA Water Co. Inc. has expanded its service area in Laguna after securing approval from local officials.
Manila Water told the local exchange on Tuesday that the municipal council, in a resolution dated August 23, approved the inclusion of Victoria, Laguna in the service area of Laguna AAA Water Corp., a unit of Manila Water.
The inclusion would require constructing a deep well and treatment facility for water supply, as well as putting over 14-kilometer of distribution lines in the municipality.
Total capital investment for the undertaking is projected at P75 million and the completion of initial phases is scheduled for April next year.
The project is in accordance with the amended concession agreement between Laguna Water and the Provincial Government of Laguna (PGL).
Victoria is a municipality adjacent to Calauan in the province, with a population of 39,321 people based on the 2015 census.
Laguna Water is a joint venture between PGL and Manila Water Philippine Ventures. MWPV, a wholly-owned subsidiary of Manila Water, owns 70 percent of the company’s shares while PGL holds the remaining 30 percent.
The Manila Water unit started running as early as 2004. But it was only in September 2009 that its operations commenced en route to becoming the province’s biggest water service provider when MWPV acquired the stake of then AAA Water Corp.
Incorporated in 1997, Manila Water is engaged in providing water, sewerage and sanitation, distribution services, pipeworks, and management services to residential, commercial, and industrial customers.
Shares of Manila Water ended at P31.15 apiece on Monday.