Tuesday, July 21, 2009

Manila Water Acquires Water Concession in Laguna Province

Manila Water Company acquired water concession to provide water supply services to Sta. Rosa, Binan and Cabuyao in Laguna province by purchasing 100% ownership of AAA Water Corporation. AAA Water corporation owns 70% of Laguna AAA Water Corporation, a joint venture with the province of Laguna, Philippines.

Laguna AAA Water Corporation currently serves 120,000 customers out of the current 600,000 population, and is expected to grop to 1,100,000 in 15 years. The service area is home to the operations of Nestle, Coca-Cola and Ford Motors, and to a number of commercial/residential developments by Ayala Land, Vista Land and Eton Properties.

Manila Water has an existing concession in the East Zone of Metro Manila, serving 5.6MM people. Since 1997, it has increased 24 hour coverage from 26% to 99% and reduces water losses from 63% to less than 20%.

Manila Water recently took over water and wastewater operations in Boracay Island.

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