Monday 24 September
Powered by Ajaxy
Nov 24, 2016 @ 22:37

Maynilad sets up Indonesian water services joint venture

 

Manuel Pangilinan-led Maynilad Water Services Inc. has entered into a partnership with PT Moya Indonesia to provide water and wastewater services in the Southeast Asian country.

The two companies shall form a joint venture company in Indonesia, tentatively named PT Water Tecnologia Indonesia, which will provide pipe network design and installation, non-revenue water and wastewater management.

PT Moya will own 51 percent of the joint venture company while Maynilad will own the remaining 49 percent.

The joint venture firm’s principal license and incorporation will be subject to the approval of the Investment Coordinating Board and the Ministry of Justice, respectively, of Indonesia.

Established in 2011, Moya Indonesia owns 95 percent of PT Moya Bekasi Jaya, PT Moya Tangerang, and PT Moya Makassar, each of which has a service concession arrangement with the Regional Drinking Water Company of Tirta Bhagasasi Bekasi Regency, Tirta Benteng Tangerang City and Tirta Dharma Makassar City, respectively, for the provision of bulk water to these areas.

Tags: , , , , , , , , , , ,

Related Stories
The Court of Appeals (CA) upheld the decision of the Quezon City Regional Trial Court
The Court of Appeals has upheld a lower court’s decision that confirmed a decision of
Maynilad Water Services Inc. raised P18.5 billion from a new credit facility created to refinance
Tycoon Manuel V. Pangilinan is shelling out P20 million to help athletes prepare to compete


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.