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MANILA - China is providing the Philippines P5.3 billion for the Angat Water Utilization and Aqueduct Improvement Project of state-run Metropolitan Waterworks and Sewerage System.
On Tuesday, President Benigno Aquino III inaugurated the project, which involves the construction of an additional 9.9 kilometers to Aqueduct 6 and an interconnection facility that would ensure water flow from Angat Dam to La Mesa Dam.
The project aims to ensure water supply for Metro Manila's 15 million residents and reduce the 394 million liters of wastage.
Angat Dam supplies 97 percent of Metro Manila's water requirements.
In his speech, the President said MWSS, under its new leadership, has turned around from a loss-making agency to a revenue contributor.
From P34 million in losses - and amid generous bonuses to MWSS officials - in 2010, the agency earned P330 million last year, allowing it to pay the pension benefits of retired workers reachingP236 million. MWSS also remitted P150 million in dividends to the national government.
Aquino also credited Public Works Secretary Rogelio Singson, who chairs MWSS, for the agency's turnaround.
The President said MWSS under Singson put an end to the previous situation wherein only 41 million out of 146 million cubic meters of water was put to good use.
Aquino also thanked China for helping fund the project. Chinese Ambassador to the Philippines Ma Keqing witnessed the inauguration.
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