Maynilad Water Services Inc. on Wednesday bared plans to deploy P31 billion worth of resources this year to develop various water and wastewater projects, the largest such capital deployment since water services company was privatized in 1997.
Maynilad said that bulk or P11.40 billion has been budgeted as wastewater management projects, including the construction of new sewage treatment plants and the laying of new sewer lines.
Another P8.72 billion will also fund water source projects enabling Maynilad to tap alternate raw water sources and generate more supply for customers. Support projects such as the upgrade and construction of facilities like pumping stations, water reservoirs, primary lines and others cost another P6.27 billion.
More than P4 billion had been set aside solely for non-revenue water reduction programs and service expansion initiatives with the rest of the capital expenditure budget this year deployed as customer service and information infrastructure projects.
Maynilad said funding the massive infrastructure investment will come from local and international bank loans and from internally generated funds.
“Last year we spent over P26 billion as capital investment which was the largest annual capex spend in our history. We continue to accelerate our services enhancement program so that our customers can enjoy the benefits sooner rather than later,” said Ramoncito Fernandez, Maynilad president and chief executive officer.
Maynilad serves the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon as well as the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario in Cavite Province.
