ICTSI Mauritius Limited, a wholly-owned subsidiary of ICTSI, yesterday concluded the acquisition of an additional 8.73% stake in Pakistan International Container Terminal Limited (PICT) after 9,532,267 ordinary shares were crossed in the Pakistan Stock Exchange.
In PCIT the agreement has expand from71.68% to 80.41% of ICTSI Mauritius Limited’s ownership.
A company of ICTSI, as of today ICTSI is talking about the acquisition of an additional 8.73% stake in Pakistan International Container Terminal Limited (PCIT) after the 9,532,267 common shares were negotiated in Pakistan Stock Exchange.
ICT Int’l Container Terminal Services, Inc. (PSE:ICT) moved up by1.59% during yesterdays trading. Share price close at 185pesos/share with a net foreign selling of -62.93Million.
According to recently released disclosure of Manila water (MWC), the Consortium of Saur SAS, Miahona Company, and Manila Water Company, Inc. (the “Consortium”), has been awarded the Management, Operation and Maintenance Contract (MOMC) of the National Water Company (NWC), Kingdom of Saudi Arabia for its Eastern Cluster.
The MOMC will comprise the management, operations and maintenance of the water and wastewater facilities of the Eastern Cluster (Dammam, Al Hofuf, Al Jubail, Al Khobar, Al Qatif and Hafar Al Batin) over a 7-year contract period, which will entail the implementation of enabling projects and deployment of key personnel to manage the Cluster and achieve the Key Performance Indicators target set by the NWC.
In addition it stated that;
‘The awarding of the water contract for the Eastern Cluster is part of the Kingdom of Saudi Arabia’s plans to drive its water infrastructure sector towards privatization. The consortium, where Manila Water holds 30 percent interest, was chosen because of its extensive experience in water services and environmental treatment management around the world.”
Technical charting of Manila water (MWC, 5.04%) closed at 25pesos/share making a 52weeks high formation in consecutive days returning to its previous levels before the pandemic period.
It will cover the cities that has a population of 5.27 million and a supply demand of 1,800 million liters of water daily which are the cities of Dammam, Al Hofuf, Al Jubail, Al Khobar, Al Qatif and Hafar Al Bati.
Mr. J.V. Emmanuel A. de Dios stated that “Manila Water will bring 24 years of experience and knowhow in the water space to provide innovative solutions to the water and wastewater requirements in a region whose population and demand are almost comparable to our existing concession area in eastern Metro Manila and Rizal Province,”
“Our operations beyond the East Zone as well as our international operations in the Asia Pacific region also provide us the leverage to better understand and address the needs of foreign markets in providing solutions through an appropriate public private partnership framework,” he added.
The awarding of the water contract is in Saudi Arabia for the reason that to drive its water infrastructure sector to privatization. Manila Water Company, Inc. carry a 30% interest in the partnership.
