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Article: Manila Water buys stake in Laguna utility
- Article from:
- The Manila Times
- Article date:
- September 19, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Sep 19, 2009. Provided by ProQuest LLC. (Hide copyright information)
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MANILA Water Co. said Friday that it has completed the acquisition of a concessionaire that provides water supply to several areas in Laguna.
In a disclosure to the Philippine Stock Exchange, the Ayala-led firm said that it has recently completed the purchase of AAA Water Corp., which owns 70 percent of Laguna AAA Water Corp., a joint-venture between the former and the provincial government of Laguna.
It has a 25-year water and wastewater concession, which started in 2007, in the city of Santa Rosa and the municipalities of Biñan and Cabuyao and currently serves only 120,000 customers out of a population of 600,000 in its concession area.
This water concession, however, is home to a ...