RAZON-LED Prime Infrastructure Capital, Inc. through its unit WawaJVCo, Inc. announced that it completed the Tayabasan weir, which is the first phase of its Wawa bulk water supply project.
“True to our fast and lean management approach, Prime Infra through WawaJVCo has delivered a critical water infrastructure that supports the country’s infrastructure development agenda with speed. As you all know, this phase of the project was finished ahead of schedule in the middle of a pandemic,” Prime Infra President and Chief Executive Guillaume Lucci said in a statement on Monday.
The water infrastructure project aims to provide ample water supply to Metro Manila and the province of Rizal.
The Tayabasan weir is a 25-meter roller-compacted concrete structure designed to deliver 80 million liters per day (MLD).
It comprises three parts: the weir, where water is impounded; the pumping station, which brings the bulk water to the water treatment plant; and the buried water pipeline, where the bulk water passes to get to the water treatment plant.
In June, the Tayabasan weir filled up its reservoir ahead of its completion in October.
Meanwhile, second phase of the project or the upper Wawa dam is expected to be completed by 2025 and will deliver at least 518 MLD to off-taker Manila Water Co., Inc. and the Metropolitan Waterworks and Sewerage System.
Mr. Lucci said that the firm was able to secure the necessary permits and obtain the seal of approval for the social aspects of the project, which “further demonstrates our capability to deliver not only critical water infrastructure, but also provide economic upliftment of local communities and environmental conservation.”
In March, WawaJVCo obtained the approval of the Dumagat or Remontado indigenous people for the upper Wawa dam. This marked the fourth and final memorandum of agreement in the free and prior, informed consent process for the project.
The firm added that it also secured the necessary permits from various government agencies, including the Department of Environment and Natural Resources, Environmental Management Bureau, the Protected Area Management Board of the Upper Marikina River Basin Protected Landscape, and the concerned local government units.
In June, Prime Infra filed for a P28.2-billion initial public offering with the Securities and Exchange Commission.
The firm plans to offer around 1.76 billion common shares at an offer price of up to P14.60, with an overallotment option of up to 175.58 million shares.
Net proceeds from the offer will be used to fund projects in the group’s energy and water as well as waste and sustainable fuels businesses. — Luisa Maria Jacinta C. Jocson