Crystal Bridges Holdings Corporation, the investment firm controlled by the family of retail mogul Lucio Co, has committed ₱6.7 billion for the initial phase of a multi-year rehabilitation and expansion plan for Primewater Infrastructure Corporation, following its acquisition from former Senate President Manny Villar in May.
The investment firm stated that the funding launches a broader strategy to overhaul operations, upgrade aging infrastructure, and boost the capacity of local water networks nationwide.
Key infrastructure projects under this initial budget include constructing and modernizing water treatment plants, septage treatment facilities, and pumping stations, alongside replacing worn-out transmission and distribution pipelines.
To address low water pressure and expand service to underserved areas, Crystal Bridges also plans to build new storage reservoirs and booster stations.
“Crystal Bridges is dedicating significant resources toward the revitalization of our water systems,” said Jose Paulino “JP” Santamarina, director at Crystal Bridges.
“Access to clean water remains one of the country’s most fundamental needs. Under our management, we aim to strengthen our capacity to provide reliable water services to communities across the Philippines.”
The capital push aims to fix chronic supply interruptions for millions of households. Crystal Bridges emphasized that the ₱6.7-billion outlay is just the first step, with additional capital expenditures slated through 2027 as full asset assessments wrap up.
The acquisition marks the Co family’s expansion into regulated utilities, adding water services to a portfolio that already features Puregold Price Club Inc. and Cosco Capital Inc.
“We understand the urgency of providing communities with access to clean and reliable water,” Santamarina added. “We are working at full capacity to address existing issues as quickly and efficiently as possible.”