Manila Water Philippine Ventures Inc. (MWPV), a wholly-owned subsidiary of Manila Water Co. Inc. (PSE: MWC), received a Notice to Proceed from the Municipality of San Fabian, Pangasinan following the enactment by said Municipality of Ordinance No. 19, Series of 2018 or “An Ordinance Granting Manila Water Philippine Ventures Inc. a Franchise to Establish, Construct, Operate, Manage, Repair, and Maintain Water Supply System and Facilities, and the Provision of Septage Management in the Municipality of San Fabian, Pangasinan.”
The Municipality of San Fabian is located North East of Calasiao in the Province of Pangasinan, where Manila Water has a Concession Agreement with the Calasiao Water District. The franchise granted to MWPV shall be for a term of 25 years with an assumed billed volume of 12.6 MLD by the end of the franchise period. Total CAPEX of the project is estimated at PhP742 million. The project is expected to be operational by 2019.