Manuel V. Pangilinan’s Metro Pacific Investments Corp. (MPIC) has bagged a P2.8-billion bulk water project for Cagayan de Oro City.
In a disclosure to the Philippine Stock Exchange, infrastructure conglomerate MPIC said it has received a Notice of Award of the P2.8 billion Cagayan de Oro 100 million liters per day (MLD) Bulk Water Project thru its subsidiary MetroPac Water Investments Corporation (MWIC). See screenshot below.
Based on the said disclosure, MWIC received the Notice of Award for the said project on March 23, 2017.
The Project involves the acquisition and construction of a 100 MLD water treatment plant and the construction of new water transmission lines and rehabilitation of the Camaman-an Reservoir, to supply the Cagayan de Oro Water District which currently has approximately 90,000 service connections.
A joint venture company to be owned by MWIC (95%) and the Cagayan de Oro Water District (5%) will be created to implement the project.
Read the PSE disclosure HERE.