Bacolod councilor decries P6.3B Baciwa joint venture
Councilor Wilson Gamboa Jr. condemned the move of the Bacolod City Water District (BACIWA) to contract a P6.3-billion, 25-year Joint Venture Agreement with Prime Water Infrastructure.
Gamboa called the contract “onerous” because it is a total “takeover and handover” of BACIWA as Prime Water will not infuse additional capital.
He cited a July 18, 2020 PNA report stating that Baciwa has entered into a 25-year joint venture agreement with Prime Water. (https://bit.ly/37g8iy1)
The joint venture agreement with Prime Water is “privatization” of BACIWA “with Prime Water not having to bring additional water sources or supply nor infuse additional capital but have full use of all the facilities of Baciwa and water sources and they are now ‘impliedly the owner’ of Baciwa,” according to him.
Gamboa added that the Baciwa privatization in the guise of a Joint Venture Agreement cannot be denied as Prime Water Vice President himself Romeo Sabater declared that once the notice to proceed is received, the project would begin on November 1 and they would already be in charge of the daily operation of Baciwa’s water supply system.