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Maynilad sets P42-B capex for expansion
- Source:http://www.manilatimes.net/maynilad-sets-p42-b-capex-for-expansion/265075/
- Tuesday, May 31, 2016
- By VOLTAIRE PALAÑA
WEST Zone concessionaire Maynilad Water Services Inc. (Maynilad) said on Monday it plans to spend P42 billion from 2016 to 2018 to accelerate the improvement and expansion of water and wastewater services for its customers.
Of the said capital expenditure (capex) program, some P21 billion will be spent for water projects, which include service expansion, management of water losses or Non-Revenue Water, operational support programs such as the upgrade of pumping stations, and the development of new water sources.
Meanwhile, about P20 billion is earmarked for Maynilad’s sewerage and sanitation program. This covers the construction of sewage treatment plants, laying of conveyance systems, acquisition of lots for new wastewater facilities, and maintenance of the existing wastewater infrastructure.
Funding for Maynilad’s infrastructure investments will come from local and international bank loans, and internally generated funds. The water company expects to generate over 126,000 jobs from its P42 billion capex for the next three years.
“Through this three-year capex program, we hope to ramp up our massive investments by accelerating the completion of new projects so we can meet our service obligations to our customers and the government,” Maynilad president and CEO Ramoncito Fernandez said in a statement.
Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. It is the agent and contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain portions), Quezon City (certain portions), 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.