Tycoon Lucio Co's purchase of troubled PrimeWater Infrastructure Corp. from the Villar family has spotlighted his lesser-known water utility, Pamana Water Corporation, operating about 15 branches across Philippine provinces. Launched in 2017, Pamana aims to deliver clean water amid criticisms, as government probes into PrimeWater complaints continue.
Lucio Co, founder of Puregold and chair of Cosco Capital Inc., expanded his water sector footprint with the acquisition of PrimeWater—serving 1.7 million households—via his Crystal Bridges Holding Corp. This deal follows government assurances of uninterrupted service and Local Water Utilities Administration (LWUA) investigations into past supply issues and high charges, as previously reported.
Pamana Water, where Co serves as a board member, focuses on providing safe water supply through joint ventures with local water districts. It operates in provinces including Pangasinan, Tarlac, Pampanga, Nueva Ecija, Bulacan, Laguna, and Pagadian City in Zamboanga del Sur.
In a rare public engagement, Co visited Pamana's Dagupan City office in Pangasinan on December 15, 2024, joining a boodle fight with staff and customers. The joint venture with Dagupan City, signed December 4, 2020, has expanded services from 27,677 to 32,181 concessioners by 2025, adding 20,310 meters of pipes and six more pumping stations (from 18 to 24). A similar deal was inked with Candaba Water District in Pampanga in 2021.
Pamana claims to be the 'preferred water provider' with 15 joint venture agreements. However, the Water for the People Network (WPN) highlights consumer grievances: low or no supply in Nueva Ecija, dirty or yellowish water in Tarlac, and rate hikes in Pangasinan. WPN's Leo Espelimbergo noted parallels with PrimeWater issues, stating, “Pamana is no saint... consumers have criticized Co’s firm for entering previously well-performing water districts."
Analysts like Rappler's Val Villanueva stress that rebuilding trust requires transparency, especially post-acquisition. Co and wife Susan, media-shy, have built Puregold into the second-largest retailer (511 stores from one in 1998), alongside S&R Membership Shopping, Office Warehouse, and others.
