MANILA, Sept 4 (PNA) — Lopez-led First Philippine Holdings Corporation (FPH) will join bidding for a public-private partnership water supply project in Bulacan, the listed firm disclosed at the Philippine Stock Exchange (PSE) Thursday.
FPH said its Board of Directors has approved the company’s participation to bid for Bulacan Bulk Water Supply Project (BBWSP) through a consortium.
“This is subject to the finalization of definitive agreements with its potential partner(s), the conduct of due diligence and compliance with the bidding requirements, among others,” FPH added.
The 24.4-billion BBWSP of the Metropolitan Waterworks and Sewerage System (MWSS) has already attracted 15 bidders from local and international groups.
Local prospective bidders for the said PPP project include Manila Water Company Inc., Filinvest Development Corp., Megawide Construction Corp., San Miguel Holdings Corp., First Balfour, Inc., Maynilad Water Services, Inc., Prime Water Infrastructure Corp., Aboitiz Equity Ventures, Datem Water, Inc., Sojitz Corp., and New San Jose Builders, Inc.
International bidders are Marubeni Corp. of Japan, K-Water of the government of the Republic of Korea, and Spain’s Abengoa and Acciona Agua.
The BBWSP targets to meet water supply requirements in Bulacan, the nearest province north of Metro Manila.
It also aims to reduce groundwater extraction and use of deep wells which has negative impacts on environment.
Meanwhile, FPH is engaged in businesses of power generation, real estate development, roads and tollways operations, manufacturing and construction, financing and other service industries.
In first half of the year, FPH’s gross revenue reached Php50 billion with net income of Php2.534 billion. (PNA)