Aboitiz Equity Ventures and JV Angeles Construction Corporation Sign RP’s Largest Private Bulk Water
Apo Agua Infrastructura Inc. (APO Agua), a joint venture company between Aboitiz Equity Ventures (AEV) and J.V. Angeles Construction Corporation (JVACC), has entered into a Php 10 billion bulk water supply agreement with the Davao City Water District (“DCWD”).
The agreement involves the construction of the country’s largest private bulk water supply facility to date together with a fully renewable energy powered water treatment plant. APO Agua will supply up to 300 million liters per day (MLD) of potable bulk water from the Tamugan River to DCWD, which will benefit the more than 1 million people of Davao City.
JVACC will be the engineering, procurement, and construction (EPC) contractor for the entire project. The company brings with it over 48 years of experience in the construction and development of water-related infrastructure in the Philippines.
“We are excited to be able to provide Davao City with this innovative bulk water supply solution ”, said JV Angeles, JVACC Chairman and President .
For Aboitiz Equity Ventures, this landmark 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 through Davao Light and our other businesses ; 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”, explained Erramon Aboitiz, AEV President and CEO.
APO-Agua has a 70-30 ownership structure, with AEV owning 70% of the company, and JVACC the remaining 30%.