Manila Water Acquires Full Ownership of Wawa Bulk Water Supply Project
Key Takeaways
- •Manila Water now wholly owns WawaJVCo, Inc. after acquiring the remaining minority interest from San Lorenzo Ruiz Builders and Developers Group, Inc.
- •The Upper Wawa Dam, commissioned in late 2023, is the largest water supply dam built in the Philippines in over 50 years and can deliver up to 710 million liters per day.
- •The Wawa Bulk Water Supply Project augments water supply for approximately 3.5 million people across Metro Manila's east zone service area.
- •The project reduces the region's reliance on Angat Dam, which supplies roughly 90% of Metro Manila's water and is vulnerable to seasonal level declines during dry months and El Niño periods.
- •Manila Water's acquisition follows its earlier P37.8-billion purchase of Prime Infrastructure Capital's 92.97% interest in WawaJVCo nearly a year prior.
Manila Water Co., Inc., the east zone concessionaire controlled by billionaire Enrique K. Razon Jr. through Prime Infrastructure Capital, Inc., has secured full ownership of the Wawa Bulk Water Supply Project in Rizal province after acquiring the remaining minority interest in its subsidiary WawaJVCo, Inc. from San Lorenzo Ruiz Builders and Developers Group, Inc.
In a regulatory filing on Monday, the company stated: "Upon completion of the transaction, WawaJVCo will be wholly owned by [Manila Water]." The transaction value was not disclosed.
The acquisition follows Manila Water's P37.8-billion purchase of Prime Infrastructure Capital, Inc.'s 92.97% interest in WawaJVCo nearly a year earlier, which included an 82% stake in its common shares. The latest transaction consolidates Manila Water's control over the project's operations.
WawaJVCo was established to develop, operate, and maintain the Wawa Bulk Water Supply Project, designed to augment Metro Manila's raw water supply. Manila Water serves as the concessionaire for the east zone of the Metro Manila service area, covering portions of Makati, Pasig, Marikina, Taguig, Pateros, Antipolo, and several municipalities in Rizal province.
With the deal completed, Manila Water now operates both the Tayabasan Weir and the Upper Wawa Dam, enabling greater technical compatibility, system efficiency, and flexibility in resource allocation.
The Tayabasan Weir, with a capacity of 80 million liters per day (MLD), has been operational since October 2022. The Upper Wawa Dam, commissioned late last year, can deliver up to 710 MLD and is the country's largest water supply dam constructed in more than 50 years.
Together, the project augments water supply for approximately 3.5 million people and reduces the region's reliance on Angat Dam, which has historically served as the primary source of water for Metro Manila. Angat Dam supplies roughly 90% of the metropolis's water requirements, making the region vulnerable to seasonal level declines during dry months and El Niño periods — a dependency that infrastructure planners have sought to address for decades. — Sheldeen Joy Talavera
