Manila Water unit seals deal with Calasiao Water District
Calasiao Water Company, Inc., a subsidiary of Ayala-led Manila Water Services Inc., has sealed the deal with Calasiao Water District (CWD) to develop and improve the water supply system of the Municipality of Calasiao in Pangasinan.
A disclosure to the Philippine Stock Exchange today showed that Calasiao Water and CWD have just signed and executed a Concession Agreement for the design, construction, rehabilitation, operation, maintenance, financing, expansion and management of the water supply system in Calasiao.
The term of the agreement will be 25 years from the commencement date.
Calasiao Water is a joint venture between Manila Water and the CWD wherein the former holds 90 percent of the outstanding capital stock.