MAYNILAD Water Services, Inc. is setting aside P16.8 billion for capital expenditures this year, focusing mainly on wastewater projects in the west zone concession area.
“Maynilad is dedicating a bigger share of this year’s capital investment toward wastewater projects, as we seek to facilitate sewerage coverage expansion in the West Zone,” Maynilad President and Chief Executive Officer Ramoncito S. Fernandez said in a statement yesterday.
“Accelerating our wastewater projects will require a lot of resources but we are committed to do our part in protecting the health of our customers and the environment,” he added.
This year’s P16.8-billion capex is 87% higher than the P9 billion earmarked for expenditures last year. Maynilad earlier announced it is allotting P100 billion for capex until 2022, most of which will be dedicated to building new sewage treatment plants (STPs).
Maynilad said around P11.4 billion of this year’s budget will be spent on wastewater management projects, such as the construction of a new STP in Central Manila. It is also upgrading old STPs to have nutrient-removal processes and installing new sewer service connections including about 30 kilometers of sewer lines in Las Piñas City.
Some P3 billion of the capex will go to non-revenue water management program, or Maynilad’s water loss recovery system, which includes services such as leak detection and repair, meter management, pipe replacements and network diagnostics.
About P1.9 billion will be allocated for water operations support like the construction of additional pumping stations and reservoir, service expansion programs and water source projects. These are all investments geared towards improving the water supply and pressure in the west zone concession area.
The remaining funds will be dedicated to customer service and information program improvement.
Maynilad said it will source its capex from internally generated funds and bank loans both in and out of the country.
Metro Pacific Investments Corp., which has majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.
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