Manila Water Co., the water concessionaire controlled by businessman Enrique Razon, said Monday it secured a P3 billion loan from state-owned Land Bank of the Philippines.
The listed water supplier and sewerage service provider in the Philippine capital said the 10-year loan facility will help it “partially finance Manila Water’s general corporate requirements, including capital expenditures.”
From this year through 2027, Manila Water is looking at a capital expenditure of around P181 billion, with the bulk going to water and waste water projects.
Manila Water has several major water projects, including the diversion of the Sumag River in Nakar, Quezon to add 2 cubic meters per second of raw water to the Umiray-Angat Trans basin rehabilitation project; the second phase of the 60-kilometer inland and submarine water transmission, pump station and reservoir that will supply an additional 200 million liters a day for Pasig, Pateros, Taguig and Talim Island; and the first and second phase of the Wawa-Calawis project that will supply a total 518 million liters a day to residents of Antipolo, Teresa and Baras, all in Rizal province.
