Wawa Dam fully acquired by Manila Water ₱37.8B

Razon-led East zone water concessionaire Manila Water Co. reported that it is taking full ownership of the recently completed Wawa Dam, a move that would help augment Metro Manila’s water demand.

- By GABRIELL CHRISTEL GALANG.

In a disclosure to the Philippine Stock Exchange on Monday, June 30, Manila Water said it acquired 100 percent ownership interest in Wawa JVCo, a unit of Razon-led Prime Infrastructure, Inc., through a ₱37.8 billion purchase price.

“The acquisition, once completed, will be financially accretive to Manila Water and is strategically aligned with its long-term water security plans for Metro Manila’s East Zone,” it said in a statement.

The company is also expecting that this takeover will improve overall operations through an integrated approach to water distribution within its network.