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Manila Water's Singapore unit inks deal with Int'l Finance Corp. for water projects

Ayala-led water concessionaire Manila Water Co. Inc. on Wednesday said its Singapore unit signed a memorandum of understanding with the International Finance Corporation (IFC) for the implementation of water projects in the Asia-Pacific region.

In a disclosure to the Philippine Stock Exchange, Manila Water said its Singapore-based wholly-owned subsidiary Manila Water Pacific Pte. Ltd. entered into an MOU with IFC, a member of the World Bank Group.

"Through the MOU, the parties intend to jointly identify, evaluate and develop, and/or jointly perform the implementation of projects for the operation, maintenance, and management of water and used water facilities, or concession contracts for, water and used water services primarily in Southeast Asia and in Asia-Pacific region," the company said.

Manila Water holds the east zone concession encompassing parts of Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, and portions of Manila.

It also serves the water requirements of Rizal province that includes the towns and cities of Angono, Antipolo, Baras, Binangonan, Cardona, Jala-Jala, Morong, Pililia, Rodriguez, San Mateo, Tanay, Taytay and Teresa. —Ted Cordero/KG/KVD, GMA News