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Manila Bulletin devider Business devider The Stock Market devider Maynilad to pour P30 billion into Rizal water projects starting next year

Maynilad to pour P30 billion into Rizal water projects starting next year

Published Dec 15, 2024 09:26 pm

Maynilad Water Services Inc., the water concessionaire for Metro Manila's West Zone, is investing P30 billion in a new water treatment plant and pipeline projects in Rizal province.

In an interview, Maynilad Chief Operating Officer Randolph Estrellado said P10 billion will be allocated for the construction of the water treatment plant, while P20 billion will be used to lay pipes connecting the Kaliwa Dam to the plant and customers.

Estrellado stated that the initial funding for these projects will come from the P26 billion Maynilad has committed to spend next year as part of its concession agreement.

"It is critical for us that, when the Kaliwa Dam is completed, these projects will also be completed," he said, noting that the government expects the dam to be finished in 2028 or 2029.

He emphasized the importance of completing the projects in conjunction with the dam's completion.

“It is necessary that, before the dam is completed, all our projects should also be completed since it takes about three years to build a treatment plant. Then we still have to lay pipes from Teresa, Rizal down Binangonan and across the Laguna Lake,” Estrellado said.

"What we don’t want to happen is for the Kaliwa Dam to be completed but we have not completed anything yet. We have to work on the timing so that the dam and our pipes are completed around the same time since we also do not want to complete too early and have our asset lying idle," he explained.

Estrellado noted the potential challenges in securing permits, which can take over a year for wastewater pipes. "Hopefully, we will finish our projects on time," he said.

According to Estrellado, Maynilad has already acquired the land for the Teresa Water Treatment Plant and awarded two contracts for pipeline laying in Teresa and Morong. Contracts for the pipes in Binangonan and the treatment plant will be awarded next year.

He said their capital expenditures will be funded by a combination of internally generated funds and bank financing.

He noted that securing loans is easier now that banks are confident in Maynilad's viability, following the approval of their rate adjustments.

Maynilad is a subsidiary of Metro Pacific Investments Corporation, with DMCI Holdings Inc. and Marubeni as joint venture partners.

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Maynilad Water Services Inc. Randolph T. Estrellado
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