A MANILA WATER-led consortium will be incorporating a joint venture with the Obando Water District (OWD) for a project in the Bulacan town.
In a disclosure, Manila water said that Obando Water Consortium Holdings Corp. (OWCHC), a consortium it formed with unit Manila Water Philippines Ventures, Inc., had inked a joint venture deal will OWD for the Obando Water Concession project.
The joint venture will handle a concession for the design, construction, rehabilitation, operation, maintenance, funding, expansion and management of water facilities and the delivery of water and sanitation services in Obando.
OWCHC will own 90 percent of the joint venture’s outstanding capital stock and OWD the remaining 10 percent.
Manila Water announced that it had bagged the Obando project in January.
The company said it would update the Securities and Exchange Commission and the PSE on developments regarding the venture.