MPIC water unit signs P1.62-B deal with Dumaguete Water District

Metro Pacific Investments Corp.’s (MPIC) wholly-owned unit MetroPac Water Investments Corp. has entered into a joint venture deal with the Dumaguete City Water District (DCWD) to develop water and wastewater facilities in the city.

In a regulatory filing submitted by MPIC vice president Melody del Rosario on Wednesday, the Pangilinan-led conglomerate said MetroPac Water signed a 25-year joint venture agreement with DCWD on September 3, 2019.

The deal calls for the rehabilitation, operation, maintenance, and expansion of DCWD’s existing water distribution system and the development of wastewater facilities.

The project cost is estimated at P1.62 billion, with an initial equity investment of P700 million.

The joint venture corporation shall implement the project including the right to bill and collect tariff for the water supply and wastewater services in the service area of DCWD, MPIC said.

DCWD currently supplies 38 million liters per day (MLD) of potable water to more than 32,000 customers in Dumaguete City and portions of the municipalities of Valencia, Sibulan, and Bacong.

As of 2019, the DCWD service area of covers a population of 165,984 and is expected to grow to over 242,000 by 2044, MPIC said. —Ted Cordero/VDS, GMA News