Maynilad allots up to P16B for capex
MAYNILAD Water Services, Inc. expects to spend around P13 billion to P16 billion on its capital expenditure (capex) projects this year.
In a statement posted on Maynilad’s website on Monday, the west zone water concessionaire said the projects will include the construction of new treatment plants, installation of new pipelines, rehabilitation and upgrading of existing facilities, and reinforcement works for climate change adaptation initiatives.
“Notwithstanding the effects of the pandemic on our operations, we continue to implement the infrastructure projects that create job opportunities, as well as sustain the water services that stimulate the economy,” Maynilad President and Chief Executive Office Ramoncito S. Fernandez said.
Meanwhile, Maynilad said that after its re-privatization in 2007, the company has generated approximately 397,000 jobs.
Since its re-privatization, Maynilad said it had spent P134 billion to replace old pipes and lay new pipes, upgrade water facilities, construct sewage and septage treatment plants, and develop alternate raw water sources which resulted in employing almost 400,000 people.
Maynilad, serves the cities of Manila, except portions of San Andres and Sta. Ana. It operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon. It also 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
