Maynilad sets P9-billion capex for 2018
METRO MANILA’S west zone concessionaire Maynilad Water Services, Inc. said on Monday it is setting aside P9 billion in 2018 as capital expenditure (capex) for its water and wastewater infrastructure projects for the year.
“Our record investments have contributed significantly to the government’s job generation efforts while also improving water services for our over 9 million customers. We will continue on this track so we can sustain service level improvements in the West Zone,” said Ramoncito S. Fernandez, Maynilad president and chief executive officer, in a statement on Monday.
Maynilad said two- thirds of the P9-billion capex or about P6.5 billion will be spent on the company’s infrastructure projects.
Of the P6.5-billion infrastructure budget, around P2.6 billion will go to water sources, operations support, and service expansion programs, Maynilad said, adding that the amount covers spending for the rehabilitation of water network facilities, upgrade and construction of pumping stations, and reservoirs for better supply and pressure management.
Also included are the installation of new primary, secondary and tertiary pipelines for water service expansion, and enhancements on the Ipo dam common-purpose facility.
Under the infrastructure budget, P3.9 billion is allotted for Maynilad’s water loss recovery or non-revenue water (NRW) management program. The program covers meter management, leak detection and repair, pipe replacements, and district metered area management.
At the same time, Maynilad said it will spend P1.7 billion this year for wastewater management projects to increase sewerage coverage and maintain network reliability. These projects include a sewer network for the sewage treatment plants in Las Piñas and Muntinlupa, and new sewer service connections.
“The rest of the budget will go to the company’s customer service and information program, which covers the modernization of data management and information systems that will help to improve service delivery,” the company said.
Funding for infrastructure investments will come from local and international bank loans, as well as from internally generated funds, Maynilad said.
The water company expects to generate more than 26,000 jobs from its P9-billion capex program for 2018.
Maynilad serves certain portions of the cities of Manila, Quezon and Makati. It also covers Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon in Metro Manila.
Outside the Philippine capital, it serves the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite province.
Maynilad, the largest private water concessionaire in the Philippines in terms of customer base, is an agent and contractor of the state agency Metropolitan Waterworks and Sewerage System for the west zone of the greater Manila area.
Metro Pacific Investments Corp., which has majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls.