MPIC unit inks water deal

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Metro Pacific Investments Corp. (MPIC) has signed a water concession agreement for a bulk water facility in Baungon, Bukidnon through its subsidiary Metropac Water Investments Corp. (MWIC). In a disclosure to the Philippine Stock Exchange, MPIC said MWIC has agreed to operate and maintain the bulk water facility of Rio Verde Water Corp. (RVWC) located in Baungon, Bukidnon, with a capacity of 100 million liters per day (mld). MPIC said the agreement will be implemented through a subsidiary to be incorporated by MWIC. RVWC is the exclusive supplier of bulk surface water to the Cagayan de Oro (CDO) water district, which supplies over 80 percent of the water requirement of CDO’s 640,000 population.

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