Corporate News

Maynilad moves to expand presence in the south

Posted on March 05, 2012

WEST ZONE concessionaire Maynilad Water Services, Inc. has allotted P2.6 billion for projects in the southern part of Metro Manila this year, the firm said in a statement over the weekend.

Workers tackle a section of the Roxas Boulevard’s drainage pipes for Maynilad Water Services, Inc. in this photo taken on Nov. 23, 2008. -- Photo By Jonathan L. Cellona

Maynilad will spend the amount “to improve and expand its water services in Parañaque, Muntinlupa, Las Piñas and Cavite.”

The utility said it has earmarked P2.1 billion to extend its pipelines to Cavite and P446 million will be spent to replace pipelines from Muntinlupa to Las Pinas.

It will use around P58 million to replace pipes in Parañaque.

“We are expediting our service improvement projects in Parañaque, Muntinlupa, Las Piñas and Cavite because the residents there have waited too long to have access to our services. With the support of the public and their respective local government units, we hope to serve even more households and establishments in the south this year,” said Maynilad President and Chief Executive Victorico P. Vargas in the statement.

The company will lay around 182 kilometers of pipes in the four municipalities to serve some 47,000 households.

The investment is claimed to generate 9,400 jobs.

Maynilad earlier said it has earmarked P8.4 billion as capital expenditures for 2012.

Maynilad is operated by a joint venture between Metro Pacific Investments Corp. (MPIC) and DMCI Holdings, Inc.

MPIC is the local unit of First Pacific Co. Ltd., which partly owns Philippine Long Distance Telephone Co. (PLDT). Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld.