Updated January 09, 2009 12:00 AM
[ philstar.com ]
Maynilad Water Services (DMCI) has tapped construction giant D.M. Consunji Inc. for two construction contracts worth P92 million aimed at improving the provision of water services in the Maynilad concession area, Hong Kong-based First Pacific Co. said.
The First Pacific group has approximately 55 percent interest in DMCI- MPIC Water Co. (DMWC), the holding company of Maynilad. DMCI owns the remaining 45 percent.
The first contract, dated Dec. 15, 2008 and expiring on April 14, 2009, involves the proposed valve insertion and replacement at two locations. Total consideration for the project is P7.65 million.
Meanwhile, the second project refers to the proposed pipe replacement in Cavite City with a total consideration of P84.4 million.
First Pacific also announced that the expiry of the North Pump Station Construction Agreement was extended to Feb. 28 this year from Dec. 27, 2008.
The project involves the construction of two additional stand-by units for Maynilad’s North Pump Station, involving supply of labor, equipment and materials amounting to P112.8 million.
First Pacific said the new agreements will be beneficial to the group since their contracts have been negotiated on an arm’s length basis with a specialist contractor who has a proven record in the industry.
The new agreements are part of Maynilad’s capital expenditure program needed to support its operations, specifically the reinforcement and replacement of primary pipelines, rehabilitation and refurbishment of water network facilities.
Maynilad holds an exclusive concession, granted by Metropolitan Waterworks and Sewerage System to provide water and sewerage services in the west zone of Metro Manila. — Mary Ann Reyes
