Manila Water Co. Inc. said it will focus on organic growth in pursuing expansion plans of its existing portfolio and in the East Zone of Metro Manila.
“It doesn’t detract us from acquiring more businesses (and working) with more water boards. I think the market is there. What I’m saying is we have to carefully and more thoughtfully take a look at all of these. We just can’t be everywhere and mean everything to everyone. We are not the supermarket of water,” said Roberto Locsin, Manila Water chief administrative officer, in a briefing with reporters in Mandaluyong City yesterday.
“There is a deliberate approach for expansion both domestically and abroad. I think we’re on the right track. Again, water is one of those things that you have to be patient with and you don’t rush into water deals,” Locsin added.
The company did not disclose the target locations but said in the Philippines, it will focus on places with highly dense populations, as well as secondary and tertiary cities.
“I can’t mention anything specific because a lot of this is still under discussion. The idea is to talk with water districts that are large enough where we can make the investment work…highly populated. We have to make sure that the water source… (is something) we can thoughtfully manage and draw from,” Locsin said.
For overseas expansion, Manila Water said it will continue to take advantage of the Razon Group’s ports business footprint through International Container Terminal Services Inc. (ICTSI).
Manila Water has ongoing talks with companies in Latin America and Africa for possible expansion.
Manila Water became an affiliate of ICTSI when the Razon Group’s Trident Water Co. Holdings acquired a controlling stake in the water concessionaire in 2021.
