Manila Water Co. Inc., the water utility controlled by billionaire Enrique Razon Jr., said it signed a P10-billion, 10-year loan facility with China Banking Corp.
“The loan will be used to finance Manila Water’s capital expenditures project,” the company told the Philippine Stock Exchange.
From 2023 to 2027, Manila Water planned to spend P105 billion for water and wastewater projects and P76 billion for operating expenditures.
The listed utility firm provides water supply, wastewater treatment, and sanitation services to more than 7.3 million customers in the eastern section of Metro Manila and in municipalities of nearby Rizal province. It is also upgrading Wawa dam to provide additional water supply to its concession area.
