WEST Zone concessionaire Maynilad Water Services Inc. is investing more than P31 billion this year.
The company said in a statement yesterday the amount is its biggest capital investment since water services in Metro Manila were privatized in 1997.
Maynilad said bulk of the amount equivalent to P11.40 billion has been earmarked for wastewater management projects, including the construction of new sewage treatment plants and laying of new sewer lines.
Around P8.72 billion will go to the implementation of water source projects that will allow Maynilad to tap alternate raw water sources and generate more supply for customers.
Another P6.27 billion will go to operations support projects such as the upgrade and construction of key facilities including pumping stations, water reservoirs and primary lines, among others.
More than P4 billion will be dedicated to the company’s non-revenue water reduction program and service expansion initiatives with the rest of the capital expenditures budget for the year to 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.
“Last year, we spent over P26 billion in capital investment, which is our highest annual capex 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 Ramoncito Fernandez, Maynilad president and chief executive officer.
