Manila Water Co. Inc. has secured a P10-billion 10-year term loan facility with China Banking Corp. In a disclosure to the Philippine Stock Exchange on Thursday, the company said the amount will be used to finance capital expenditure projects.
In a separate statement, Manila Water said it also set to complete the upgrade of its Biological Nutrient Removal (BNR) system at its East Avenue sewage treatment plant (STP) in Quezon City before the end of the year.
The company in a statement on Thursday said the facility will further ensure the health of waterways as it will regulate the discharge of harmful nutrients such as ammonia, nitrates and phosphates into the environment.
Manila Water said BNR systems are vital in ensuring wastewater plant discharges will not harm marine life, decrease oxygen and cause algal blooms in waterways.
