By CESAR JOLITO III
The new owner of PrimeWater Infrastructure Corp. is prepared to invest up to P3 billion to modernize and improve water distribution services in Bacolod City, according to Lone District Representative Alfredo Abelardo Benitez.
Benitez said he met with business magnate Lucio Co on Thursday morning, December 18, to discuss the urgent need for fresh capital to address long-standing water service issues under the Bacolod City Water District (Baciwa) – PrimeWater joint venture agreement (JVA).
“The estimated modernization program of Baciwa is around P1.5 billion, and Mr. Co expressed willingness to invest up to P3 billion,” Benitez said, noting that the amount could significantly accelerate infrastructure upgrades and service improvements.
The investment plan comes amid the impending transfer of PrimeWater, currently owned by the Villar Group, to Crystal Bridges Holding Corp., a company under the Lucio Co Group.
Benitez confirmed that Crystal Bridges is set to acquire 100 percent of PrimeWater’s operations nationwide.
He said the takeover is expected by early January, pending clearance from the Philippine Competition Commission, the government body tasked with enforcing the Philippine Competition Act.
Benitez added that the incoming owner has agreed to review the existing JVA between PrimeWater and Baciwa, following concerns from the Baciwa board over provisions they deem one-sided.
Any amendments, he said, would aim to better protect the interests of the water district and consumers.
Under the agreement, PrimeWater — whether under the previous or new owner — will remain accountable for outstanding penalties, royalties due to Baciwa, and payments to suppliers, Benitez stressed.
The lawmaker also dismissed rumors linking him as an investor in Crystal Bridges Holding Corp., saying Co has sufficient financial capacity to independently acquire and operate PrimeWater.
Addressing calls from the Baciwa Employees Union for a government takeover of Bacolod’s water services, Benitez maintained that private sector participation remains crucial.
“The private sector has the funds needed for large-scale modernization,” he said, emphasizing that improved service delivery should remain the priority for Bacolod residents.
Benitez earlier said he was hopeful that PrimeWater’s change in ownership will result in improved water services in Bacolod, noting that the incoming operator is expected to bring in fresh investments.
Benitez identified two major issues that plagued PrimeWater during its operations in the city when he was still mayor: water supply and system infrastructure.
He explained that Bacolod’s water source has been insufficient, with production reaching only about 60 to 70 million liters per day (MLD), far below the city’s actual demand.
According to Benitez, at least 100 MLD or more is needed to adequately serve all households.
The second major concern, he said, involves the water system itself, particularly the lack of modernization.
This includes aging pipes and outdated facilities that have affected the efficiency and reliability of water delivery across the city.
Benitez added that the joint venture agreement between Baciwa and the new owner is now undergoing a transition phase, as the incoming operator prepares to assume control of operations./CJ, WDJ