Manila Water secures P3-B term loan
MANILA WATER Co., Inc. has signed a P3 billion 10-year term loan facility with the Land Bank of the Philippines, the water concessionaire said on Monday.
In a regulatory filing, Manila Water said the loan will fund its general corporate requirements and capital expenditures.
The east zone water concessionaire has said that it is targeting to spend about P181 billion for its capital investments until 2027.
Separately, Manila Water said it is optimistic about the construction of the P4.18-billion Aglipay sewerage treatment plant in Mandaluyong City.
The Aglipay plant has a treatment capacity of about 60 million liters per day (MLD), which is expandable to 120 MLD of wastewater to be collected from its catchment area in the cities of Mandaluyong, San Juan and Quezon. The sewerage system is expected to serve 720,000 by 2037.
The water concessionaire serves Metro Manila’s east zone network, which comprises Marikina, Pasig, Makati, Taguig, Pateros, Mandaluyong, San Juan, portions of Quezon City and Manila, and several towns of nearby Rizal province.
At the local bourse on Monday, shares in the company closed four centavos or 2.03% higher at P20.10 apiece. — Ashley Erika O. Jose
