CEBU-BASED Vivant Corp. is screening for opportunities to enter the water industry, while it maintains its growth perspective in the power sector.
The Garcia-led holding firm disclosed in a recent stockholders’ meeting that it aims to “address” water issues, not just in the Visayan province, but also in other areas. It is looking at different aspects of the industry value chain from supply to engineering.
“We intend to address the water problems in Cebu and other key areas in the country by looking at opportunities for bulk water supply, water distribution, waste water treatment, and water engineering and solutions,” Jess Anthony N. Garcia, the company’s head of business development for infrastructure, said in a statement over the weekend.
The company through its wholly owned Vivant Hydrocore Holdings, Inc. has interests in water treatment and sewerage projects.
It is co-developing a combined sewerage and septage facility of the Puerto Princesa City, Palawan government after acquiring a 45% stake from the local government unit’s former partner in February. In 2019, it formed a joint venture with Israeli firm WaterMatic International Ltd. to build and operate water treatment plants for the agriculture industry.
This expansion is aided by the continuing growth of its power business, according to Vivant Energy Corp. Chief Operating Officer Emil Andre M. Garcia.
“To continue supporting Vivant’s mission of bringing excellence to industries that improve everyday living, Vivant Energy will continue to grow its position in the power industry, so Vivant can endeavor to enter into new waters,” the official said.
The company’s power arm has earmarked more than P2 billion in renewable and energy storage technologies and hybridization of its existing power plants.
“Despite the challenges presented by the pandemic, we are well-situated to carry on and thrive by adapting and future-proofing our investments in power,” he said.
In the first half, Vivant posted a 35% decline in net profit to P814.4 million, while its revenues fell by 43% to P1.8 billion as its income-driver power generation segment performed poorly with the slump in sales and demand.
Vivant is also engaged in electricity distribution and power retail businesses. — Adam J. Ang