Manila Water Co. Inc. signed a P3- billion 10-year term loan facility with the Land Bank of the Philippines.
In a disclosure to the Philippine Stock Exchange, Manila Water said the amount will be used to partially finance general corporate requirements, including capital expenditures.
The company earlier announced it will spend P105 billion for capital expenditures for water and wastewater projects in the next five years. It also plans to build 12 additional sewage treatment plants in order to comply with its mandate and the Clean Water Act.
Manila Water currently operates 41 treatment facilities capable of treating up to 410 million liters of water per day (MLD).
The company targets to have a total of 53 wastewater facilities with 1,156 MLD treatment capacity which will cover 100 percent of its concession area, translating to a total of 715 kilometers of sewer network to serve 7.6 million population in the East Zone.
The company said its wastewater treatment plants employ various technologies that treat wastes and pollution through a variety of mechanisms and processes, including the collection of sewage and septage from households and establishments to conveyance as well as full treatment and safe disposal of by-products.
