Sunday, July 10, 2011

Villar family-owned company plans to put up water firms in Iloilo

THE company controlled by the family of Sen. Manuel Villar and its partners have ?secured regulatory approval to establish two new companies relating to their initiatives to supply water in Iloilo province.

The Securities and Exchange Commission last week approved the incorporation of Iloilo Primewater Ventures Corp. and Flo Water Resources Iloilo Inc.

The same documents showed that the Villars, through privately held Primewater Infrastructure Corp., teamed up with the Florete family of Iloilo and with Solerex Water Technologies Inc., maker of retail water treatment systems and owner of the Crystal Clear brand.

In an interview with business reporters last week, Villar said his family plans to be “aggressive” in pursuing water supply contracts particularly in Iloilo.

He said his group has experience in supplying water to homes built by Vista Land & Lifescapes Inc., a listed homebuilder that Villar founded three decades ago.

Last month, the Metro Iloilo Water District awarded Primewater, Solerex Water and Marro Holding Corp. ?with a 10-year water contract to supply several Iloilo towns with 10,000 cubic meters of water per day, according to published reports.

Marro Holding is owned by local businessman Rogelio Florete, whose family has interests in banking, broadcast media, real estate development and agriculture.

Villar is banking on positive growth prospects in the Western Visayas province, which already hosts several large real estate developers including firms led by the Ayala, Sy and Gokongwei families. ?

Apart from expanding its water distribution business, Villar said last week his family is looking at power among other infrastructure related projects. --Miguel R. Camus @
Business Mirror


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