rich9 Metro Pacific, Hitachi team up for wastewater projects

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MANILA, Philippines — Metro Pacific Water Solutions (MPWS) has tapped the Hitachi Group to pursue projects in the country, particularly those that would ramp up wastewater treatment capacity.

Under the Manuel Pangilinan-led MPWS’ memorandum of understanding with Hitachi Asia Ltd., the two companies will “explore a range of potential joint projects focused on improving wastewater management” in the country, including building new wastewater treatment facilities.

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Hitachi Asia, which also has offices in six other Southeast Asian countries, mainly uses technology to monitor water facilities and collect data through artificial intelligence.

In a stock exchange filing on Thursday, October 17, the Ayala-led bank said its net income expanded by 24.3 percent to P48 billion.

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The Japanese group is set to support MPWS by implementing “advanced treatment technologies” and help increase water supply availability.

READ: Metro Pacific Iloilo Water to invest P1-B in service upgrades in 2025

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“Water is a basic source of living, unfortunately some in our region still lack access to stable and clean supply of water,” Hitachi Asia chief operating officer Chay Wee Tang said in a statement on Friday.

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A 2023 report by Asia-Pacific Network for Global Change Research showed that only 10 percent of wastewater in the Philippines is treated, while only 5 percent of the total population is connected to a sewer network.

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The national government has pledged to improve coverage of water and sanitation services by 2028 through the development of new technology.

MPWS parent firm Metro Pacific Investments Corp. (MPIC) saw its core earnings surge in the first nine months of 2024 by 28 percent to a record P20.8 billion.

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READ: MPIC seen breaching P22.4-B full-year performance goal

Net income, which included one-time gains from MPIC’s real estate business, ballooned by 44 percent to P23.1 billion.

MPIC, whose core businesses are power, toll roads and water, saw its revenues jump by 20 percent to P53.76 billion.

Chaye Cabal-Revilla, MPIC chief financial officer, earlier told reporters that they were slated to go over their full-year core earnings target of P22.4 billion despite a historically slower fourth quarter.

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The energy business under Manila Electric Co. remained the largest income contributor at 63 percent as its net income rose by a fifth to P33.8 billion.rich9

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