Aboitiz Equity Ventures eyes Davao water project
Subscribe Now May 29, 2013 at 04:23pm
AEV disclosed to the Philippine Stock Exchange on Wednesday that it had signed a joint venture agreement with JVACC for the supply of treated bulk water to the Davao City Water District.
The proposed venture includes the construction of both a hydro electric-powered bulk water treatment facility and the conveyance system needed to deliver treated bulk water to numerous DCWD delivery points.
JVACC had submitted a proposal to DCWD for the supply of 300 million liters per day of potable bulk water.
“We are excited about the opportunity to provide DCWD with a viable, long term bulk water source. Harnessing the well-established technical expertise of Hedcor and JVACC in hydroelectric power and water-related infrastructure, respectively, the project will be the country’s first and only bulk water system with a fully renewable energy powered water treatment facility,” said AEV president Erramon Aboitiz.
“As a long- time partner of Davao City for over 80 years now, we once again express our commitment to support the growth and development of the city through this strategic infrastructure initiative,” he said.
AEV’s affiliate Hedcor Inc. (Hedcor) was tapped by JVACC to provide the necessary technical and operational expertise for the hydroelectric components of the project. Hedcor is a pioneer proponent in the generation of clean and renewable power and currently produces 155 megawatts through 19 run-of-river hydroelectric plants across the country.
The final structure of the joint venture company is currently being determined and studied by the parties involved.
“As one of the country’s leading water infrastructure contractors, we are confident of being able to deliver a potable bulk water system to Davao City that not only provides an innovative, sustainable solution to its growing water needs, but also aligns with the City’s environmental focus through harnessing clean renewable energy as the system’s primary source of power,” said JVACC president Jose Virgilio Angeles Jr.
JVACC is one of the leading contractors in the Philippines with over 48 years of experience in the construction and development of water-related infrastructure. Its portfolio includes the construction of Hedcor Sibulan’s run-of-river hydro power electric project, which provides 42 MW of Davao City’s power supply. As an ISO-certified company, JVACC has been a recipient of numerous industry awards.
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