The consortium, which includes Manila Water Corporation, has been granted a contract to run water and wastewater installations in two provinces in Saudi Arabia.
In a statement to the Philippine Stock Exchange on Friday, Manila Water reported that the consortium had concluded a seven-year management, service and maintenance deal with the state-run National Water Corporation for the North West cluster of Saudi Arabia (NWC).
The consortium also comprises the Saur Community of France and the Miahona of Saudi Arabia.
‘The (bill) would include the administration, service and repair of the water and wastewater facilities of the North West Cluster (Madinah and Tabuk) over a 7-year contract period, and will include the maintenance of the water and wastewater facilities of the North West Cluster (Madinah and Tabuk). The execution of supporting projects and the recruitment of key staff to operate the cluster and meet the NWC Key Success Metrics goal,” the organization said.
About 3.5 million people live in the provinces of Tabuk and Madinah in the north-western region of Saudi Arabia.
Manila Water already offers water supplies on the eastern side of Metro Manila and major cities in the Philippines.
It has foreign ventures via activities in Vietnam, as well as investors in Thailand and Indonesia.
Manila Water’s company net income dropped by 24 per cent to P3.19 billion in the first nine months of 2020 due to lower contribution from domestic subsidiaries due to the effects of the COVID-19 pandemic, as well as a one-off identification of incremental projections of possible losses around the group.’