Maynilad withdraws tie with Miya Water

MAYNILAD has withdrawn from its partnership agreement with Miya Manila Water Projects Inc., the proponent consortium that proposes to undertake the non-revenue water (NRW) and expansion projects of the Bacolod City Water District (Baciwa).

This was confirmed in a letter dated July 5 by Maynilad President and Chief Executive Officer Victor Vargas to lawyer Mai Flor of Miya Manila Water Projects Inc.

Vargas said that, “After careful review of the outstanding issues, we have decided to withdraw from our partnership agreement to undertake the NRW Management and expansion project for Baciwa.”

He added that the developments in recent weeks have made the partnership unfeasible, and contrary to the best interests of the stakeholders.

Maynilad and Miya Manila Water formed a consortium called the “Miya Manila Water Services” that proposed to undertake the projects of Baciwa.

Maynilad is a company of Manny Pangilinan while Miya Manila Water Inc. is an Arison Group or an Israeli company which is not registered in the Security and Exchange Commission.

Manila Water also proposed to undertake the NWR project at P444 million but this was not entertained by the Board of Directors of Baciwa, citing their specific recommendation in its Joint Venture Selection Committee that only Miya Maynila will be entertained on these project, a source, who requested anonymity, said.

But the Board has a resolution before that two companies will be reconsidered – the Miya Manila and Manila Water.

In the consortium, Miya represents 60 percent while Maynilad has only 40 percent representation.

If this project was pushed through, the project would cost P924 million which will be paid by Baciwa for 15 years, with a fixed fee and performance fee which will amount to P7.8 billion for the contract period of 15 years.

And Baciwa will loan its equity with the said company, the source added.

‘Freedom’

Meanwhile, Baciwa Union president Claudio Salmo said the withdrawal of Maynilad was a victory for all the concessionaires of the water district as it freed the water district from potential bankruptcy and high cost of water.

He said that since Maynilad has withdrawn, Miya Maynila cannot anymore take the project all alon

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e because it is an Israeli company.

The officers and members of the union celebrated their victory Thursday in a boodle fight, a military style of eating wherein everyone, regardless of rank or social status, eats at the same time with bare hands to show unity.

They felt a big relief from the withdrawal and their efforts of fighting for the cause of the public for two months and the staging rallies have been paid off with the withdrawal of the proponent.

Baciwa chairman of the board Lawrence Villanueva and directors Marichi Ramos and Lorendo Dilag said they were open to the proposal of letting an outsider company take charge of the NRW of Baciwa.

But this was vehemently opposed by the union until the proponent withdrew.

Dilag and lawyer Julie Ann Carbon, Baciwa general manager, were reached for comment as of this posting Thursday but to no avail.
http://www.sunstar.com.ph/bacolod/local-news/2013/07/19/maynilad-withdraws-tie-miya-water-293280