AEV-JV Angeles partnership bags P10-B Davao water deal

MANILA, Philippines - The tandem of Aboitiz Equity Ventures Inc. (AEV) and J.V. Angeles Construction Corp. has bagged the country’s largest private bulk water supply deal worth P10 billion.

Apo Agua Infrastructura Inc., the joint venture between AEV and J.V. Angeles, said yesterday it has signed a bulk water supply agreement with the Davao City Water District (DCWD), the water and wastewater service provider of more than one million residents of Davao City.

The water supply deal will involve the construction of the country’s largest private bulk water supply facility along with a fully renewable energy-powered water treatment plant.

The treated bulk water that will be supplied to DCWD will come from a facility that will be powered by a hydroelectric power plant.

Under the agreement, Apo Agua will supply up to 300  million liters per day (MLD) of potable bulk water from the Tamugan River to DCWD.

“The project is intended to provide a reliable supply of potable water for the growing needs of Davao City,” AEV said.

AEV said the project is part of its thrust to expand into infrastructure development in addition to its core businesses of power, banking, land and food.

“We have long been partners in Davao’s economy through Davao Light and our other businesses. Through our investment in Apo Agua, we will ensure that Davao City has the necessary bulk water infrastructure for it to continue with its impressive economic growth story,” said Erramon Aboitiz, AEV president and chief executive officer.