Aboitiz-J.V. Angeles venture inks deal for P10-B Davao bulk water facility

The joint venture between Aboitiz Equity Ventures Inc. (AEV) and J.V. Angeles Construction Corp. is building a P10-billion bulk water facility for Davao City.

 

In a disclosure to the Philippine Stock Exchange Wednesday, AEV said Apo Agua Infrastructura Inc. has signed the joint venture contract and bulk water purchase agreement with the Davao City Water District (DCWD).

 

APO Agua is 70 percent owned by the Aboitiz holding firm while J.V. Angeles holds the remaining 30 percent. 

 

The agreement covers the construction of the largest private bulk water supply facility with a fully renewable energy powered water treatment plant, AEV said in a press statement.

 

APO Agua will supply up to 300 million liters per day (MLD) of potable bulk water from the Tamugan River to DCWD. In turn the utility which supply the needs of an estimated 1 million residents of Davao City.

 

J.V. Angeles will provide the engineering, procurement, and construction (EPC) services for the project.

 

"We are excited to be able to provide Davao City with this innovative bulk water supply solution," said J.V. Angeles chairman and president JV Angeles.

 

AEV said the landmark project is part of its thrust to expand into infrastructure development in addition to its core businesses of power, banking, land and food.

 

“We have long been partners in Davao’s economy  through Davao Light and our other businesses;  and through our investment in APO Agua, we will ensure that Davao City has the necessary bulk water infrastructure for it to continue with its impressive economic growth story," AEV president and CEO Erramon Aboitiz said.

 

The Aboitiz-J.V. Angeles consortium was awarded the contract to fund, build and operate the bulk water facility in June 2014. – Danessa O. Rivera/VS,  GMA News