Metro Manila (CNN Philippines, June 21) — Publicly listed firm Vivant Corporation said Monday its unit secured a 25-year contract to deliver the water supply needs of Metro Cebu.
The company told the local bourse its wholly-owned subsidiary Vivant Hydrocore Holdings Inc. (VHHI) bagged the Cordova Bulk Water Supply Project.
VHHI holds the group’s water infrastructure investment portfolio.
“Vivant Hydrocore submitted a solicited proposal for the Cordova Bulk Water Supply Project in response to an invitation to bid published by MCWD (Metropolitan Cebu Water District) on September 25, 2020,” the company said in a separate statement on Monday.
The group said Vivant Hydrocore will construct a utility scale desalination plant to boost the water supply of MCWD by 20,000 cubic meters per day of treated and potable water.
Last week, Vivant said it is allotting ₱6.4 billion capital investment over the next three years. Its power business will get ₱5 billion of the capital expenditures, while its infrastructure segment will receive ₱1.4 billion.
READ: Vivant Group allots ₱6.4B for next three years to boost power, infra biz
Shares of Vivant in the Philippine Stock Exchange inched up by 2.67% or 40 centavos to finish at ₱15.40 each on Monday.
