The consortium registered by Securities and Exchange Commission (SEC) as Cebu Bulk Water Resources Inc. is composed of businessmen Michel Lhuillier, Nissan Cars distributor Peter Yap, and water solutions provider Mactan Rock Industries Inc.
In an interview with the consortium's legal counsel Judge Romulo Senining he said that the group decided to bravely challenge the Ayala-led water supply project, because they believe that they can offer lower rates as bulk supplier to MCWD.
"We have already finalized the consortium, now that we saw an even playing field already," Senining said in an interview yesterday.
"If we allow an empire to control, or monopolize our water resources, they can [eventually] dictate the price," Senining added.
According to Senining Lhuillier got the interest to join the consortium as he owns lands in Carmen, near the Luyang River, the source of Ayala water project.
Lhuillier and Yap will help in the financial side of the consortium, while Mactan Rock will take care of the technical aspects, as the latter has been in the water business for decades already.
Asked if the consortium has the technical support based on engineering and hydrological studies, Senining said hydrological studies has been there, besides it is only based on the Water Remind study figure.
The consortium has paid capital of P7.5 million, and authorize capital of P120 million.
The P2 billion Ayala water project is now on the second review with the National Economic and Development Authority (NEDA). It proposed to offer P25 per cubic meter to Metro Cebu Water District (MCWD), other challenger companies are reportedly willing to offer as low as P18.00 per cubic meter.
However, Senining refused to divulge, how low the consortium can go down with their price, saying "it's a trade secret."
Reportedly, another group will also participate in the controversial water project "swiss challenge" which will be scheduled soon.
Recently, the Metro Gaisano Group joined the Ayala Water consortium, the first venture of the retail giant into water business.
Metro Cebu's total water demand is estimated at 250,000 cubic meters to 300,000 cubic meters a day. Currently, MCWD is only supplying 50 percent of this demand the rest is supplied by private deep well operators.
The business sector in Metro Cebu had been urging the concerned agencies, MCWD, local government units (LGUs) to immediately resolve the water problem issue in Cebu.