Maynilad allots nearly P10B for pipe replacements
MAYNILAD Water Services, Inc. has allotted P9.9 billion to replace pipes spanning 639 kilometers within its concession area in the next five years, it said on Tuesday.
“We are committed to investing in our infrastructure to continuously improve our services. Our goal is to provide 100% of our concession area with 24-hour supply at appropriate water pressure,” Maynilad Chief Operating Officer Randolph T. Estrellado said in a media release.
The company said the replacement of pipes covered the areas of Manila, Parañaque, Pasay, Muntinlupa, and Las Piñas, which is part of the P219.8 billion worth of capital expenditure that the company has set aside for 2023 to 2027.
Maynilad said that once the project is completed, it will support the water supply needs of at least 344,000 residents and will result in the recovery of some 66 million liters per day (MLD) of water.
Since 2007, Maynilad said that it has replaced 2,974 kilometers of old pipelines or at least 64% of the pipe network.
Maynilad, a concessionaire of the Metropolitan Waterworks and Sewerage System, serves the cities of Manila, except portions of San Andres and Sta. Ana. It also operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon. It serves the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario in Cavite province.
Metro Pacific Investments Corp., which has a 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.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose
