MANILA, Philippines – The Laguna Water District and an investment holding company of Metro Pacific Investments Corp. (MPIC) have signed an agreement to invest in a company that would respond to financial, technical, and manpower concerns for the expansion of LWD’s services.
A memorandum of agreement was signed recently between LWD and Equipacific HoldCo. Inc., an investment holding company composed of Equi-Parco Construction (EPCC) and Metropac Water Investments Corp. (MWIC) owned by MPIC.
The new entity, Laguna Water District Aquatech Resources Corp. (LARC) was subsequently listed in the Securities and Exchange Commission (SEC) on Dec. 8, 2015.
LWD is one of the water districts that has the widest service area and lower rate of “non-revenue water losses,” said general manager Pantaleon Tabanao in a year-end report to LWD concessionaires in behalf of the company’s management, board of directors, and employees.
For instance, when Super Typhoon Glenda devastated Laguna and other areas in its path, from the Bicol Region to Metro Manila in July 2014, LWD was among the water districts that was able to continuously provide service (particularly clean water) within its service area.