State regulator Metropolitan Waterworks and Sewerage System said Monday it approved the Wawa Bulk Water Supply Project proposed by WawaJVCO―the joint venture of tycoon Enrique Razon and businessman Oscar Violago.
MWSS said in a statement the proposed Wawa Dam Project, which aims to supply 80 million liters per day of potable water in 2021 and more than 500 MLD in 2025, was approved during the meeting of the MWSS board of trustees on Nov. 14.
“As promised to the public, the board has already given its final approval for the Wawa Bulk Water Project. This is good news for everyone, not only for the proponents and stakeholders but more importantly for the MWSS consumers. This will ensure water security for the greater Metro Manila area in the coming years,” MWSS chairman Velasco said.
The approval came in the light of the favorable opinion given by the Office of the Government Corporate Counsel on Nov. 7 on the remaining conditions precedent. The approval was the remaining document to make the project fully effective and enable the project proponent to proceed in the development work.
“I would like to assure the public that MWSS is doing everything in its power to address the current water crisis. We are committed to make sure that we have enough supply to meet the demands of the growing population in Metro Manila,” Velasco said.
“I am sure the other government agencies who are mandated to issue permits will follow suit as this is a priority project to solve the water crisis,” he said.
WawaJVCo, a joint venture of Razon’s Prime Infra and businessman Violago’s San Lorenzo Ruiz Builders Group, early this month signed a P20-billion term loan facility with BDO Unibank Inc. to jumpstart the development of the project.
BDO Capital and Investments Corp. acted as the sole arranger and book runner for the deal.
The Wawa Dam Project is expected to help address the recurring water supply problem in Metro Manila.
WawaJVCo already signed an offtake agreement with Manila Water Co. Inc., the water concessionaire for the east zone of Metro Manila, on Aug. 6.