The Metropolitan Cebu Water District has granted a 25-year bulk water delivery deal to a VIVANT Corp. affiliate (MCWD).
The contract was granted to Vivant Hydrocore Holdings, Inc. after the business submitted a requested bid for the Cordova Bulk Water Supply project, the company stated in a stock market filing on Monday.
Vivant Hydrocore will construct a utility-scale desalination plant with Watermatic Philippines Corp. as its technical partner to supplement MCWD’s restricted supply with 20,000 cubic meters of treated and drinkable water per day.
The Vivant company stated, “This investment in bulk water supply is a significant milestone for the Vivant group to deliver on its commitment to offer forward-looking and flexible solutions for its communities.”
The Vivant Group and MCWD will form a joint venture partnership.
As a fully owned subsidiary of Vivant Infracore Holdings, Inc., which is entirely owned by Vivant, Vivant Hydrocore manages the Vivant group’s water infrastructure investment portfolio.
The Garcia-led holding company also operates in the power distribution and retail industries. Last year, the firm said that it was seeking for work in bulk water supply, water distribution, wastewater treatment, and water engineering.
Vivant said this Monday that it had put aside P5 billion in capital expenditures through 2023 to finance electricity projects. As sales decreased, its parent company’s net income dropped 38 percent to P1.4 billion in 2020.