Power-based Vivant group is making further headway in the water services business as unit Vivant Hydrocore Holdings Inc. (VHHI) secured a 25-year bulk water supply deal with the Metropolitan Cebu Water District (MCWD).
According to parent firm Vivant Corp., MCWD has awarded to VHHI the contract for their Cordova Bulk Water Supply Project.
VHHI, along with its technical partner Israel-based Watermatic Philippines Corp., was tapped to build a utility scale desalination plant that would augment the limited bulk water supply of MCWD by 20,000 cubic meters per day of treated and potable water.
Adaptable solutions
Vivant and MCWD have yet to sign a joint venture agreement related to the transaction, the financial aspects of which were not disclosed.
“This investment in bulk water supply is a key milestone for the Vivant group to deliver on its promise to provide forward-looking and adaptable solutions for its communities,” the company said.
Company officials revealed in 2020 plans to make further investments in energy projects as well as in water infrastructure, including bulk water supply and wastewater treatment. The company has been actively looking for opportunities in water-related industries.
Ramontito E. Garcia, Vivant chair and CEO, said that while the group was not the biggest player in the energy sector and was new to water, its “track record as a trustworthy and reliable partner precedes it in whatever industry it chooses to venture into.”
Investment portfolio
VHHI and Watermatic teamed up to develop solutions for bulk water supply and water treatment for industry and agriculture.
Vivant had partnered with Watermatic as early as 2019 to establish a joint venture company engaged in the design, supply, installation, commissioning, operation and maintenance of water treatment and wastewater treatment plants.
Back then, Vivant said partnering with an experienced company in the water and wastewater treatment business was part of their endeavor to diversify their investment portfolio to include infrastructure.
Also last year, the Vivant group firmed up interest in the P240-million Puerto Princesa City sewerage and septage project, through VHHI’s acquisition of a 45-percent equity interest in Faith Lived Out Visions 2 Ventures Holdings Inc. (FLOWs).
The transaction resulted in Vivant owning 40 percent of Puerto Princesa Water Reclamation and Learning Center Inc., the joint venture company of the local government and FLOWs in developing a combined sewerage and septage facility serving the city.
Read the original story here.
(Published in Inquirer.net, 22 June 2021)
