Maynilad allots P18 B for capex

Posted at 01/27/14 8:07 AM

MANILA, Philippines - West Zone water concessionaire Maynilad Water Services would invest around P18 billion this year for water and wastewater projects, the company announced over the weekend.

Around P8.2 billion out of the company’s capital outlay for 2014 would be spent on wastewater management projects including the construction of several sewage and treatment plants and conveyance systems in Muntinlupa, Parañaque and Valenzuela.

Some P2.7 billion would be allocated for the expansion of the service network which entails the laying of primary lines in portions of Cavite, Las Piñas, Muntinlupa, Parañaque and Quezon City.

Around P2.3 billion has been earmarked for the construction, rehabilitation and upgrade of boosters, pumping stations and reservoirs to maintain sufficient water supply and pressure in the West Zone.

Maynilad will also spend P2.2 billion to reduce its non-revenue water (NRW). Its NRW reduction program covers meter and pressure management, active leakage control, primary line assessment, selective pipe replacement, and district metered area management.

Another P2.2 billion would be spent for water source development, while some P314 million has been allotted for the modernization of the company’s data management and information systems.

Funding for Maynilad’s capital expenditure this year would come from a combination of bank loans and internally generated funds. The water company expects to create around 58,275 jobs from its P18 billion investment this year.

“We are doing everything we can to meet our service obligations to our customers. We also hope to contribute to the job generation program of the government through our record investment,” said Maynilad president and CEO Ricky P. Vargas.

Maynilad services the cities of Manila (all but portions of San Andres and Sta Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the districts of the Holy Spirit and Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province. – With Rhodina Villanueva