Crystal Bridges Holdings Corp., a holding firm owned by the family of retail tycoon Lucio Co, has earmarked more than P6.7 billion for the initial phase of its rehabilitation and expansion program for Primewater Infrastructure Corp., following the completion of its acquisition of the water utility in May, according to Philstar Biz.
The rehabilitation program aims to upgrade Primewater’s infrastructure, improve service reliability, and expand coverage areas. The investment covers major capital expenditures including pipeline replacements, treatment plant upgrades, and network improvements to address aging systems and growing demand.
Primewater serves several municipalities and is expected to benefit from the Co family’s deep retail and logistics expertise. The move underscores the growing interest of diversified conglomerates in the Philippine water utility sector, which has seen increased consolidation in recent years.