Maynilad to spend P11.40B on wastewater projects this year
MAYNILAD Water Services, Inc. announced on Wednesday a budget allocation of approximately P11.4 billion for wastewater management projects this year.
The amount covers the construction of new sewage treatment plants and the laying of new sewer lines, the company said in a statement.
Maynilad is currently operating 23 wastewater facilities located within its service areas, while five are under construction in the cities of Muntinlupa, Caloocan, and Las Piñas.
Meanwhile, approximately P8.72 billion will be dedicated to the implementation of water source projects that will enable Maynilad to tap alternate water sources and generate more water supply.
Some P6.27 billion has been allocated for operations support projects such as the upgrade and construction of key facilities, including pumping stations, water reservoirs, and primary lines, among others.
Maynilad also stated that more than P4 billion will be allocated to the company’s program to reduce non-revenue water and to initiatives aimed at expanding services. The remaining budget for the year will be used for its customer service and information infrastructure, among other projects.
“Maynilad’s massive infrastructure investment will be funded by a combination of internally generated funds and new debt,” the company said.
The total amount is part of the capital expenditure that the company will invest this year, reaching more than P31 billion, marking its “biggest capital investment” since water services in Metro Manila were privatized in 1997.
“Last year, we spent over P26 billion in capital investment, which is our highest annual capex (capital expenditure) spend in history. We are continuing to accelerate our service enhancement program so that our customers can enjoy the benefits sooner rather than later,” said Maynilad President and Chief Executive Officer Ramoncito S. Fernandez said.
Under its approved 2023-2027 business plan, Maynilad has allocated a P227-billion total spending budget to sustain service enhancements and ensure water sustainability and security.
Maynilad serves 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 also supplies the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta, and Rosario, all 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. — Sheldeen Joy Talavera
