Maynilad sets aside P13B for infrastructure projects

by Victor V. Saulon Posted on February 08, 2017 http://www.bworldonline.com/content.php?section=Corporate&title=Maynilad-sets-aside-P13B-for-infrastructure-projects&id=140299 MAYNILAD Water Services, Inc. has earmarked P13.2 billion for this year’s projects, of which more than half will be set aside to improve water infrastructure, the company said on Wednesday. “Despite the delayed implementation of our arbitral award, we will pursue our investment plans for the West Zone because we have an obligation to provide good water and wastewater services to our over 9 million customers,” said Ramoncito S. Fernandez, Maynilad president and chief executive officer, in a statement. The company said P8.2 billion of the year’s capital expenditure will be allocated to infrastructure projects to enhance water supply and pressure in the west zone, the company’s franchise area. Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. Programs for water sources and operations support will get about P4.2 billion, which will include funding to improve Maynilad’s La Mesa and Putatan water treatment plants as well as the upgrade and construction of pumping stations and reservoirs. Also included are funds for the installation of primary pipelines for water service expansion, and for common purpose facilities, including the Bigte basis, La Mesa aqueduct and the Ipo dam in Bulacan. Maynilad said another P4 billion would go to programs on water loss recovery or non-revenue water management and service expansion. The funds will also cover meter management, leak detection and repair, pipe replacements and district metered area management. The rest will be used to modernize data management and information systems and maintain existing facilities. The company said the remaining P5 billion of the year’s budget will be used for wastewater management projects as it aims increase sewerage coverage and maintain compliance with environmental standards. Of the P5 billion, P4.1 billion will fund the construction of a new sewage treatment plant and a conveyance system in Las Piñas. Up to P345 million will be spent to install new sewer service connections and work involving wastewater management. The rest will go to the automation and maintenance of the sewage treatment plants, lot acquisitions and sanitation programs Funding for Maynilad’s investments will come from local and international bank loans, as well as from internally generated funds. The company expects to generate around 40,549 jobs from its capital expenditure program this year. Maynilad is the agent and contractor of the Metropolitan Waterworks and Sewerage System for certain portions of the cities of Manila and Quezon City. It also serves west of the south super highway in Makati City as well as Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon. Outside the metro, it reaches cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite province. Metro Pacific Investments Corp. owns a controlling stake in Maynilad. MPIC is one of three key 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 a majority stake in BusinessWorld.