MANILA – The joint venture between Aboitiz Equity Ventures (AEV) and J.V. Angeles Construction Corporation (JVACC) has signed a P10 billion bulk water supply agreement with the Davao City Water District (DCWD).
The agreement between the joint venture, Apo Agua Infrastructura Inc., and DCWD involves the construction of the country’s largest private bulk water supply facility so far together with a fully renewable energy powered water treatment plant.
APO Agua will supply up to 300 million liters per day of potable bulk water from the Tamugan River to DCWD, which is expected to benefit more than 1 million people in Davao City.
JVACC will serve as the engineering, procurement, and construction contractor for the project.
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; and 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 AEV president and chief executive Erramon Aboitiz.
AEV owns 70 percent of APO-Agua, while JVACC owns the remaining 30 percent.