West Zone concessionaire Maynilad Water Services Inc. tapped Metropolitan Bank & Trust Co. for a P10- billion loan that will bankroll its capital requirements this year.
The company said the loan maturing in 2034 will be used to fund programs that will further optimize water management, enhance service quality and contribute to building a more sustainable and resilient water utility sector.
Specifically, proceeds will be utilized to help improve its water service coverage, increase water sources, reduce non-revenue water, improve sewerage coverage and treatment facilities, upgrade water treatment plants and facilities and improve water availability.
“With this loan, we are in a better position to pursue our capital expenditure program that will further enhance water services for our over 10.3 million customers. This supports our commitment to meet our service obligations and achieve sustainable growth,” said Randolph Estrellado, Maynilad chief operating officer, in a statement.
