Bilyonaryo - Business

Overflowing: Lucio Tan gets 4th water franchise in Iloilo after Ayala, Villar, Balibago

May 8, 2019

Bilyonaryo.com

ILOILO CITY — The Iloilo City Sangguniang Panlungsod (SP) has granted bilyonaryo Lucio Tan a 25-year non-exclusive franchise to construct, establish, commission, operate and maintain a water supply system in the metropolis.

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Tan’s New Earth Water System’s franchise will cover the the entire city, said Majority Floor Leader Plaridel Nava II in an interview after Tuesday’s regular session.

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“This is the fourth company that we have given franchise. This will be the last. We have already discussed this with the other members that we will wait for the guidelines because there are a lot of applicants,” he said.

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He said that two more investors were seeking a water franchise. The strong interest from water companies showed that the Metro Iloilo Water District (MIWD) could not cope with its coverage areas, he said.

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The city council granted a franchise to the Ayala-led Manila Water Philippines Venture, Inc. and Tubig Pilipinas Group joint venture last March and to Manny Villar’s Prime Water in December last year. It previously extended a franchise to the South Balibago Water Resources.

In an interview following the approval of the Manila Water in March, Nava said that they would “put a moratorium and look into the effects before we proceed to more applications”.

“It is already something that we will deeply look after PECO (Panay Electric Company). After PECO we will focus ourselves on the MIWD,” he stated.

The approval of the new player came at a time when the city was placed under a state of calamity due to water scarcity as an effect of the El Niño.

The city government is now preparing to have water rationing in 73 barangays that are experiencing water woes. (PNA)

Related News Tags: Bilyonaryo, commission, construct, establish, Lucio Tan, non-exclusive franchise, operate, supply system, The Iloilo City Sangguniang Panlungsod (SP)

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