MANILA, Philippines - Ayala Land Inc. and its subsidiaries signed an agreement with Manila Water Philippine Ventures Inc. (MWPV) for water and used water services.
Under the agreement, MWPV shall provide water and used water services to all projects of ALI, Cebu Holdings and Cebu Properties Ventures Development Corp. nationwide.
ALI’s sister firm Manila Water Co. is the water concessionaire for Metro Manila’s east zone.
Manila Water has earmarked P30 billion for capital spending in the next two years.
Of the P15-billion budget for this year, P12 billion has been set aside for the east zone and P3 billion for non east zone project.
In the nine months to September, Manila Water posted a net income of P4.6 billion, up from P4.54 billion in the same period last year. Revenues rose four percent to P12.69 billion.
Total billed volume went up two percent to 515.3 million cubic meters.