|
Manila Water Co. has officially been awarded a water leakage and
metering project in Vietnam.
In a disclosure to the Philippine Stock Exchange
yesterday, Manila Water said it has officially received the
five-year contract from Saigon Water Corp. (SAWACO) for a
performance-based leakage reduction and management services in Ho
Chi Minh City.
The Ayala-led water utility earlier won the bid
for the six-year project, which costs about $15 million, that aims
to reduce the city’s non-revenue water or water lost due to leaks
in the aging pipes or due to illegal connections. The amount was
sourced through a loan from World Bank.
In line with the awarding of the project, Manila
Water is set to deploy a team of non-revenue water experts in
Vietnam, which will be supported by a number of Vietnamese local
subcontractors.
“The project will allow Manila Water to share
its expertise in the field of leakage reduction and District
Metering Area management,” Manila Water said.
Manila Water as the conces-sionaire of the east
zone of Metro Manila has reduced its non-revenue water from 63
percent in 1997 to 20 percent today.
The company is eyeing investments in the region
as part of its expansion plans to take advantage of its strong local
performance and financial capability.
Besides the Vietnam project, Manila Water also
participated in the bidding for a sewerage project in Hong Kong last
year.
Manila Water’s shares closed yesterday at
P17.75 from P18.25.
-- Euan Paulo C. Añonuevo
|
