MANILA, Philippines - MacroAsia Corp., an aviation support company controlled by tycoon Lucio Tan, is breaking into the water distribution business with a planned treatment plant and distribution facility in Cavite costing an initial investment P2.5 billion.
In a disclosure to the Philippine Stock Exchange, MacroAsia said the project, which will be undertaken through a consortium of wholly-owned unit MacroAsia Properties Development Corp. and Watergy Business Solutions Inc., will involve the development of the infrastructure required to collect, treat and deliver surface water from the Maragondon River for use by the water districts and other water utility companies in Cavite.
The facility will churn out about 150 million liters of treated water per day and will be funded partly from internally-generated cash and external sources. The project will be developed over a two-year period.
Most of the output water is already being eyed for off-take arrangements with the water districts and some water utility concessionaires in Cavite, MacroAsia said.
Many of the municipalities in Cavite are presently being serviced by water districts whose water supply is sourced from deep wells. Thus, many communities currently face the threat of saline (saltwater) intrusion into their water table due to extensive water extraction.
“This bulk water supply project will provide a viable solution to this current situation in Cavite. As such, this project has full support of the water districts as well as the Cavite provincial government,” MacroAsia said.
MacroAsia provides aircraft maintenance, repairs and overhaul (MRO) services, charter flight services, airport ground handling services and in?flight catering services and operates a special economic zone at the Ninoy Aquino International Airport (NAIA). All its subsidiaries and associated companies render services directly to the airline customers/locators at NAIA, Manila Domestic Airport, Mactan-Cebu International Airport (MCIA) and Davao International Airport.
The company continues to expand its revenue portfolio by building on its existing core businesses and pursuing new viable opportunities despite stiff competition and crisis in aviation industry.
MacroAsia is currently working to reopen its Infanta nickel mine in Brooke’s Point in Palawan, which covers a total land area of about 1,114 hectares. Extensive exploration activities are substantially done, enabling the completion of a PMRC?compliant resource estimation report and the drafting of a mine operating plan. Preparation for mine development such as setting up of facilities, rehabilitation of roads and construction of port facility and causeway have commenced during the year.
The mine used to produce ore shipments to Japan in the 1970s. Based on the Philippine Mineral Reporting Code –compliant report, the company has completed a seven-phased exploration program over 535.5 hectares or 48 percent of total. The results indicate a total resource tonnage of around 88.36 million dry metric tones of ore.
MacroAsia is a holder of two mineral production sharing agreements (MPSA) with the government with the of renewal of mining leases that the company held as a mining entity from its start-up years.