ABCI forms new bulk water firm

Jun 26, 2015

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Publicly-listed company A Brown Company Inc. has created a new company to undertake the provision of bulk water for interested clients.

 

ABCI President Robertino E. Pizarro made the disclosure during the company’s annual stockholders meeting held June 19 at its flagship property Xavier Estates in Cagayan de Oro City.

 

ABCI EVP Roel Z. Castro fields a query about the bulk water venture during the Annual Stockholders Meeting held June 19 at Xavier Estates, Cagayan de Oro City. Also in the photo are ABCI officers Dr. Thomas Aquino, Annabelle P. Brown, Executive Chair Dr. Walter W.  Brown and President Robertino E. Pizarro. (photo by Mike Baños, NPN)

ABCI EVP Roel Z. Castro fields a query about the bulk water venture during the Annual Stockholders Meeting held June 19 at Xavier Estates, Cagayan de Oro City. Also in the photo are ABCI officers Dr. Thomas Aquino, Annabelle P. Brown, Executive Chair Dr. Walter W. Brown and President Robertino E. Pizarro. (photo by Mike Baños, NPN)

“AB Bulk Water Company, Inc. (ABWCI) will engage in the business of holding and providing rights to water to public utilities and cooperatives,” said Mr. Pizarro. “This project is a partnership with local governments, aimed at addressing their needs for an independent water supply system. “

 

Earlier, ABCI said in a disclosure it has subscribed to the entire outstanding capital stock of ABWCI equivalent to five million shares at an undisclosed price. 


ABCI Executive Vice President Roel Z. Castro said the projects would be pursued under the guidelines of the national government’s Public-Private Partnership (PPP) program.

 

ABCI is a leading residential estate developer in Northern Mindanao and pioneered the Xavier Estates in Cagayan de Oro. Its other projects include Teakwood Hills in Bgy. Agusan, Valencia Estates and Mountain Pines Farm in Bukidnon, Coral Resort Estates in Initao, Misamis Oriental; West Highland Golf & Residential Estates in Butuan City;

 

Besides real estate development, ABCI also engaged in agribusiness, power and utilities, and accommodations and recreational facilities.

 

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