The Bases Conversion and Development Authority (BCDA), a development corporation and entity of the government of the Philippines, has announced that it has signed a Joint Venture Agreement (JVA) with a consortium led by PrimeWater Infrastructure Corporation for the New Clark City water infrastructure PPP project.

The project involves the financing, design and engineering, establishment, construction, development, operation and maintenance of the water and wastewater infrastructure of a new metropolis under development in Pampanga province.

The signing was witnessed by officials of the Asian Development Bank (ADB), who acted as the transaction adviser to BCDA.

The consortium of PrimeWater, Prime Assets Venture, Inc. (PAVI), MGS Construction, Inc., and Israel-based TAHAL Group submitted the lowest bid of PHP9.45 (US$0.18) per cubic meter, besting the PHP11.00 (US$0.21) per cubic meter bid by the Manila Water Company. 

The project will enable residents and locators of New Clark City, envisaged as the first smart, green, and sustainable metropolis in the country, to enjoy one of the lowest water rates in the country. The average basic rates in Metro Manila are around PHP30 (US$0.56) per cubic meter.

The PHP9.45 per cubic meter rate applies for the water supply only. The same amount shall be charged for wastewater services for a total rate of PHP18.90 (US$0.36) per cubic meter for the first five years of the 30-year JV period.