By Zinnia B. Dela Peña
Monday, November 3, 2008 [ philstar.com ]
Ayala-led utility firm Manila Water Corp. (MWC) said around P1 billion may be needed to improve the water and sewerage system in Boracay, an international tourist destination known for its long white sand beaches.
Manila Water and the Philippine Tourism Authority signed in May an agreement allowing the listed firm to manage and improve water operations in Boracay.
“We have already submitted a formal proposal. We want to have a full-blown concession in Boracay,” said Sherisa Nuesa, chief finance officer of Manila Water.
Nuesa said the project may require an investment of at least P1 billion.
The management contract is effective for a period of 25 years.
She said the project is a joint venture between Manila Water and the PTA.
Boracay’s water and sewerage system was designed and constructed by the PTA in 1996, funded by a loan from the Japan Bank International Cooperation.
Manila Water president Antonino T. Aquino said that with wastewater disposal and treatment a major concern among residents of Boracay, the utility firm is committed to help the government preserve Boracay as one of the country’s major tourist destinations.
Manila Water was formed in 1997 (through a consortium led by the Ayala Group) to address the need for improved water services in Metro Manila. The company holds the concession rights to operatethe Metropolitan Waterworks and Sewerage System (MWSS) East Concession until 2022.
Since taking over the concession area, Manila Water improved water service coverage from 58 percent to 99 percent of the service population and increased water availability in its service area from 16 hours a day to 24 hours a day.
It operates and manages the sewage treatment facility in Makati, and a modern septage treatment facility in Taguig City.
The company also operates and manages a water supply and sewerage project in Tirupur, India.
