Manila Water is looking for local offers
Manila Water Co. Inc. is set to conclude several agreements with local water districts before the end of the year as part of its expansion program following the acquisition of the company by the Razon Group .
“We would like to conclude a few transactions before the end of the year. We are coming (to) the end of the first semester, I hope if we can swing it at least one before the end of the year, “said Roberto Locsin, administrative director of Manila Water, during a briefing the week last.
Locsin did not give details, except to say that the company is looking for potential partnerships with local water districts for bulk water supply, distribution, sanitation and sewer services, among others.
Last month, Manila Water’s subsidiary, Manila Water Philippine Ventures Inc., acquired additional stakes in the consortium that is developing and supplying bulk water supply to Cebu province for 107.6 million pesos.
In March, the provincial government of Cebu signed an agreement with another subsidiary of the company, Manila Water Consortium Inc., for the extraction of water from the Luyang River in the city of Carmen, northeast of Cebu. .
Locsin said Manila Water plans to leverage the Razon Group’s port business through International Container Terminal Services, Inc. (ICTSI) by seeking possible expansion within and outside of existing operations in Southeast Asia. and in the Middle East.
The company is in talks with a number of well-known large water companies in the countries where ICTSI operates, such as those in Latin America and Africa.
“We are doing a lot of work now, the deal pipeline is healthy. It’s just that these things take time. Some of them are brownfields, some are greenfield land, and some are existing businesses that are being sold. There are a lot of opportunities available with these three origination categories and we need to spend our money wisely as we are the new management team,” said Locsin.
“We want to self-finance our business and not borrow from the bank. We want to make sure the funding is in line with revenue expectations,” added Locsin.
Manila Water became a subsidiary of ICTSI when Razon Group’s Trident Water Co. Holdings acquired a majority stake in the water concessionaire last year.
Manila Water serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, parts of Quezon City and Manila; and several towns in Rizal province, including Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
It also has partnerships with water districts in Tagum, Davao del Norte; Bulacan; Clark to Pangasinan; Calasiao in Pangasinan; San Jose to Nueva Ecija; Lagoon; Boracay to Aklan; Cebu; as well as real estate developments through Estate Water.
Abroad, Manila Water is present in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.