Manila Water Co. said Monday an indirect subsidiary has secured a P1.6 billion, 10-year loan for projects within the unit’s concession area in Laguna, a highly populated province just south of Metro Manila.
Laguna AAA Water Corp., owned by the listed water concessionaire through unit Manila Water Philippines Ventures Inc., secured the loan from Bank of the Philippine Islands.
“The proceeds of the loan will be used to partially finance capital expenditures (of Laguna Water) for the years until 2025,” said Manila Water, whose major shareholder is tycoon Enrique Razon.
Laguna Water operates in the cities of Binan, Santa Rosa, and Cabuyao and in the towns of Pagsanjan. It also provides water service in Alaminos, Calamba City, San Pablo City, Sta. Cruz, Calauan, and Victoria. It has more than 115,000 service connections.
