BCWD Board of Directors visit PPP Project for Bulk Water Supply
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Members of the Board of Directors (BOD) of Butuan City Water District (BCWD), together with AGM Jorge Guduyo and some staff, once again visited recently the Public Private Partnership (PPP) Project for Water Treatment and Bulk Water Supply in Iyao, Anticala.
The purpose of the visit was to see the progress of the construction of the project undertaken by Taguibo Aquatech Solutions Corporation (TASC), a Special Purpose Company (SPC) created in accordance to the 2008 NEDA Joint Venture Guidelines to implement the Joint Venture Agreement between BCWD and TwinPeak Hydro Resources Corporation (THRC). TASC has been fast-tracking the construction of the facilities to meet its promise to partially deliver treated water to BCWD by December of this year.
It can be recalled that on April 23, 2013, BCWD and THRC executed a Contractual Joint Venture Agreement with the following benefits to be enjoyed by the BCWD:
- BCWD shall not incur any cash or monetary investment into the project, and all financial obligations for the development, construction, operation, and maintenance of the project shall be for the sole account of the SPC-TASC;
- BCWD shall be assured and guaranteed by the SPC of continued and improved water supply, quality and opportunity for expansion with minimal financing costs;
- There shall be no increase in water rates to the concessionaires of the BCWD for the first three (3) years; and
- THRC, through the SPC, shall provide a program and budget for rehabilitation and protection of the Taguibo Watershed.
The PPP project for Water Treatment and Bulk Water Supply will ultimately resolve not only the recurrence of water supply interruptions during rainy days but also during long drought.
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