Manila, Philippines – Prime Infrastructure Holdings Corp. (Prime Infra) is pleased to announce a significant milestone in its water business strategy to establish its position as a leader in the Philippines’ water market. On June 3, Prime Infra’s Trident Water closed the acquisition of a controlling stake in Manila Water Company, Inc. (PSE: MWC). This acquisition, together with the ongoing flagship Wawa bulk water supply project, builds up Prime Infra’s water market presence as the leading bulk water supplier and distribution utility operator in the Philippines.
MWC, in addition to being the largest publicly-listed water company in the Philippines, also has a presence in four countries overseas, namely Vietnam, Thailand, Indonesia and the Kingdom of Saudi Arabia. The Prime Infra management team will work hand in hand with existing MWC shareholders to seek expansion opportunities both in the Philippines and abroad.
Prime Infra is businessman Enrique K. Razon Jr.’s infrastructure arm focused on providing reliable, resilient and sustainable infrastructure to build better lives and resilient economies.
“Prime Infra is part of a dynamic and fast-growing group of companies that have successfully brought the Filipino brand to the world. It is then only a logical move for us to take the leap into becoming a global Filipino water company by focusing on strategic and scalable water businesses, leveraging on our group’s vast network, experience and resources,” says Razon, chairman of Prime Infra.
Razon was elected on June 3, 2021 as chairman, president and chief executive officer of MWC following the strategic investment made by Prime Infra.
“The acquisition of a controlling stake in Manila Water, a leading player in the water and wastewater industry in the region, is a major milestone in our efforts to grow our company and capture future demand both in the domestic and international markets,” adds Guillaume Lucci, president of Prime Infra.
Apart from water, Prime Infra’s infrastructure assets also include sustainable energy and construction, and will soon expand to other industries as part of its commitment to bring and improve services to communities around the world.