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InterAksyon.com
The online news portal of TV5
MANILA, Philippines -- West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) has allotted around P8.4 billion this year to improve and expand its water and wastewater services for its customers.
The company will fund its capital expenditures through a combination loans and internally generated funds.
Some P2.7 billion will go to boosting Maynilad’s sewerage and sanitation drive while P1.9 billion will be used to upgrade key facilities including its pumping stations, water reservoirs, and primary lines, among others.
Over P1.6 billion will be spent to lay new pipelines in unserved areas and nearly P1.8 billion will be used for the company’s non-revenue water or system loss reduction program.
The rest of the 2012 budget will be used for the development of water sources, building and warehouse facilities, natural calamity mitigation and other projects.
“When Metro Pacific and DMCI took over Maynilad in 2007, they were committed to infusing the necessary funds to make the company viable and responsive to the needs of our customers. The fact that on our fifth year, we are able to sustain our massive investments through loans and internal funds means that we have gone a long way from being a financially unstable company,” said Maynilad president and chief executive officer Ricky P. Vargas.
Maynilad has the largest customer base among private water concessionaires in the country.
It is a concessionaire of state-run Metropolitan Waterworks and Sewerage System for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (all but portions of San Andres and Sta. Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the districts of the Holy Spirit and Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon; and Cavite City, and the towns of Bacoor, Imus, Kawit, Noveleta and Rosario, all in the province of Cavite.
