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Manila Bulletin devider Business devider Maynilad sets largest investment since water privatization

Maynilad sets largest investment since water privatization

Published Feb 21, 2024 08:49 am

At A Glance

  • Maynilad will spend P31 billion this year for improvement and expansion in the western Metro Manila.<br>About P11.4 billion is set aside for wastewater management, P8.7 billion for supply generation, P6 billion for facility upgrades, and P4 billion for the water loss program.

Maynilad Water Services, Inc. is making its largest capital investment ever this year since the privatization of water services in Metro Manila nearly three decades ago.

In a statement, Maynilad said that the West Zone concessionaire is set to invest more than P31 billion this year in water and wastewater projects, the company's largest investment since 1997.

“The bulk of this budget, or P11.40 billion, has been earmarked for Maynilad’s wastewater management projects, including the construction of new Sewage Treatment Plants and laying of new sewer lines,” the company said on Wednesday, Feb. 21.

Furthermore, Maynilad plans to invest around P8.72 billion in water source projects to tap alternate raw water sources and boost water supply.

Additionally, P6.27 billion is earmarked for operations support projects, including upgrades and construction of important facilities like pumping stations, water reservoirs, and primary lines.

Moreover, more than P4 billion will be allocated to Maynilad's non-revenue water reduction program and service expansion efforts.

“The rest of the 2024 Capex [capital expenditure] budget will be used for its customer service and information infrastructure, among other projects,” Maynilad said.

The investments to be made by the company will be generated from internal funding and a new debt.

Ramoncito S. Fernandez, Maynilad president and chief executive officer, said that the company spent more than P26 billion in capital investments in 2023, also the highest annual spending ever.

“We are continuing to accelerate our service enhancement program so that our customers can enjoy the benefits sooner rather than later,” Fernandez said

Under its approved 2023-2027 business plan, Maynilad has laid out a P227 billion total expenditure plan to support service enhancements and ensure water sustainability and security.

Maynilad is the largest private water concessionaire in the Philippines based on customer base.

It operates as the concessionaire of the Metropolitan Waterworks and Sewerage System for the West Zone of the greater Manila area.

This area includes Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon, along with Cavite City and several towns in Cavite Province.

Related Tags

Maynilad Water Services Inc. Maynilad Capex West Zone concessionaire water supply
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