AEV said J.V. Angeles Construction Corp. (JVACC) received on behalf of the Jose V. Angeles Construction Consortium the Notice of Award (NoA) from DCWD for “the financing, design, construction, and operations of the Tamugan Surface Water Developments Project.”
“The JVACC-AEV Consortium will have to comply with the requirements in the NoA before the Joint Venture Agreement with DCWD can be executed,” AEV said.
AEV in May 2013 announced that it will be undertaking the bulk water project in Davao City under a joint venture with JVACC.
“The proposed venture includes the construction of both a hydroelectric-powered bulk water treatment facility and the conveyance system needed to deliver treated bulk water to numerous DCWD delivery points,” AEV had said earlier.
The holding firm had said JVACC has submitted a proposal to DCWD for the supply of 300 million liters per day of potable bulk water.
JVACC has also tapped AEV affiliate Hedcor, Inc. to provide the necessary technical and operational expertise for the hydroelectric components of the projects.
Hedcor engages in the development of hydropower projects across the country.
JVACC is one of the leading contractors in the Philippines with 48 years of experience in the construction and development of water-related infrastructure.
AEV, the holding firm of the Aboitiz family’s businesses, said it has set aside around P88 billion for its capital expenditures this year, up from P59 billion a year earlier.
AEV lost P1.25 or 2.22% to close at P55.15 on Monday. -- Claire-Ann Marie C. Feliciano
source: Businessworld
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