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Manila Water Company Inc. (MWCI)’s proposed bulk water supply
project in Cebu remains pending as the local government has yet to
push the project forward.
Antonino T. Aquino, MWCI president, said the
company “cannot proceed with any of the investments in line”
because the project, which was first proposed in 2002, has yet to
secure the approval of the local government unit of the municipality
of Carmen in Cebu.
The cost of the project, which aims to
distribute water to be extracted from Carmen’s river to Metro Cebu
through the Metro Cebu Water District, is expected to run over P2
billion.
Despite the length of time it is taking for the
project to push through, Aquino added that the Ayala-led water
utility is “still hopeful to have development” on the Carmen
Bulk Water Supply Project, which is expected to provide 1.3 million
people with treated water apart from additional water supply.
Meanwhile, MWCI Chief Finance Officer Sherissa
Nuesa averred Carmen remains a possible water source, saying
although the “governor of Cebu announced that they looking for
another source of water . . . the provincial government of Cebu has
yet to announce a public bidding date for the project.”
MWCI’s share closed higher yesterday at the
Philippine Stock Exchange at P18.25 from P18.00.
-- Euan Paulo C. Ańonuevo
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