Expansion
On December 12, 2007, Bulacan and the Metropolitan Waterworks and Sewerage System (MWSS) signed an agreement for the development of a P11-billion bulk water supply project. It was reported that Ayala-owned Manila Water would implement the project. MWSS and Manila Water would provide a financial package of an infrastructure grant, a P10-million development assistance and a P10-million royalty fee to the towns of Norzagaray and Doña Remedios Trinidad, which would host the water supply project.
In 2009, Manila Water acquired ownership of the company that supplies water to key growth areas in Laguna, south of Manila. Through its wholly owned subsidiary AAA Water Corp (AWC), Manila Water gained a 70% stake in Laguna AAA Water Corp, a joint venture between the provincial government of Laguna and AWC. The joint venture company serves the needs of the cities of Santa Rosa, Biñan and Cabuyao, where several international businesses including Nestle, Ford, and Coca-Cola, and major industrial parks, are located.
A year later, Manila Water and the Philippine Tourism Authority, a government agency, formed a joint venture called Boracay Island Water Co., Inc. With an initial capitalization of Philippine Pesos 300 million (approximately US Dollars 6.5 million) and a 25-year concession agreement, the company has been tasked to develop, operate, and manage the water and sewerage system of the Philippines' most popular tourist spot.
The company has also expanded operations elsewhere in the Asia-Pacific region, with management contracts and/or investments in Vietnam; India; and Australia
In February 2012, Manila Water disclosed that its consortium with partners Viscal Development Corp. and Stateland Inc. has been awarded the bulk water system project of Cebu. The provincial government of Cebu and the consortium will jointly undertake the project that will help meet the water needs of the northern and central areas of the province.
Read more about this topic: Manila Water
Famous quotes containing the word expansion:
“Every expansion of government in business means that government in order to protect itself from the political consequences of its errors and wrongs is driven irresistibly without peace to greater and greater control of the nation’s press and platform. Free speech does not live many hours after free industry and free commerce die.”
—Herbert Hoover (1874–1964)
“The fundamental steps of expansion that will open a person, over time, to the full flowering of his or her individuality are the same for both genders. But men and women are rarely in the same place struggling with the same questions at the same age.”
—Gail Sheehy (20th century)
“We are caught up Mr. Perry on a great wave whether we will or no, a great wave of expansion and progress. All these mechanical inventions—telephones, electricity, steel bridges, horseless vehicles—they are all leading somewhere. It’s up to us to be on the inside in the forefront of progress.”
—John Dos Passos (1896–1970)