Manila Water Co. Inc., said its subsidiary, Bulakan Water Co. Inc., through Filipinas Water Holdings Corp., has obtained a 10-year, P200 million loan from the Bank of the Philippine Islands.
In a disclosure to the Philippine Stock Exchange, the company said proceeds from the loan will finance the refurbishment, expand and improve the service facilities and the water source as well as the distribution system and the provision of sanitation services in the service area of Bulakan Water.
Earlier, Manila Water bared spending P105 billion as capital expenditure for water and wastewater projects over the next five years.
The company also said before that it will build 12 additional sewage treatment plants in order to comply with its mandate under the Clean Water Act.
Manila Water currently operates 41 treatment facilities capable of treating up to 410 million liters of water per day (MLD).
The company targets to have a total 53 wastewater facilities with 1,156 MLD treatment capacity covering 100 percent of its concession area and translating to 715 kilometers of sewer network serving 7.6 million consumers in the East Zone.
It said its wastewater treatment plants employ various technologies that treat wastes and pollution through a variety of mechanisms and processes, including the collection of sewage and septage from households and establishments as well as full treatment and safe disposal of by-products.
Manila Water mainly serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, some parts of Quezon City and Manila; and several towns in Rizal province that include Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
