On May 16, 2018, MetroPac Water Investments Corp. (MPW), a subsidiary of Metro Pacific Investments Corp. (PSE: MPI), officially received from Dumaguete City Water District (DCWD) the Notice of Award for the rehabilitation, operation, maintenance, and expansion of DCWD’s existing water distribution system and development of wastewater facilities.
MPW and DCWD shall enter into a joint venture agreement upon completion of the post award activities. A joint venture corporation shall be organized pursuant to the provisions set in the JVA. The joint venture corporation shall implement the Project including the right to bill and collect tariff for the water supply and wastewater services provided to the customers in the service area of DCWD.
The project cost for the duration of the 25-year concession is estimated at PhP1.62 billion, with an initial equity investment of PhP700 million in 2018.
DCWD serves Dumaguete City and portion of the Municipalities of Valencia, Sibulan, and Bacong. As of 2018, the estimated population in the area being served by DCWD is 162,389.