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San Miguel wants to build P35-B new water source


San Miguel Corporation (SMC), through its water unit, is set to submit within the next two weeks an unsolicited proposal to build a P35-billion project that would serve as a new water source.

In an interview with SMC president and COO Ramon Ang, the businessman said the planned project will be able to provide up to 3,800 million liters per day (MLD).

"Magsa-submit ako ng unsolicited proposal within two weeks a new water source of 3,800 million liters per day [MLD]," he told reporters on the sidelines of the annual stockholders meeting of Petron, where he also serves as president and CEO.

"I think we can build this 3,000 MLD, private funding—mga P35 billion 'yung project cost, five years to build," he said.

According to Ang, the company plans to push through with the project by itself, and it is looking at the possibility of selling water at P5 per cubic meter.

"Maha-harvest natin ito sa new water source, not Angat Dam," he said, adding that the proposal comes from the need to look for a new water source given the recent supply issues.

He did not elaborate further, but noted that he could share more details once the proposal is forwarded to the government.

Earlier this year, the La Mesa Reserve breached its critical level of 69 meters, which prevented Manila Water Company Inc. from meeting the demand of 150 million liters per day from the reservoir and led to president Ferdinand dela Cruz apologizing to customers.

Manila Water chairman Fernando Zobel de Ayala and his brother, vice chairman Jaime Augusto Zobel de Ayala, also took responsibility for the water interruptions.

San Miguel has also earlier expressed openness to utilize its untapped water allocation from Angat in a bid to help address the water supper shortage experienced in the East Zone of Metro Manila. — BM, GMA News

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