Manila Water invests P3.9B in Clark unit
MANILA, Philippines–Clark Water Corp., a wholly owned subsidiary of the Ayala-led Manila Water Co., is investing P3.93 billion to further improve its water supply services at the Clark Freeport Zone in Pampanga.
According to a statement issued by Manila Water on Thursday, Clark Water has pledged to make such capital investments between now and 2040, following the extension of its concession agreement by another 15 years.
It was only recently that Clark Water, the sole water and used water services provider at the Clark Freeport, had inked a contract with Clark Development Corp. for the extension of its concession agreement.
The planned P3.93-billion capital investment pegged for the whole concession term will be used for various improvements of the company’s water and used water facilities in order to promote the freeport zone as an ideal business hub for multinational companies.
Of this amount, about P1.06 billion is expected to be invested within the first four years.
For 2014, Clark Water has already completed three new deep wells, upgraded three booster pumps, and installed generator sets on its old water sources to improve and strengthen supply reliability.
Clark Water further disclosed that it has formulated a business plan which will serve as its project road map until the end of its concession period.
“The biggest chunk of our investment is allocated to source development for water projects and collection of used water. Source development includes the construction and commissioning of new water sources through the construction of new deep wells and infiltration wells. This also includes our on-going feasibility study in the possibility of tapping surface water. On the other hand, our used water collection project involves the replacement, reinforcement and construction of new sewer lines,” said Jesus D. Laigo, general manager and chief operating officer at Clark Water.
“At the end of the day, we are all guided by our desire to make the Clark Freeport Zone a top investment haven of choice and making our locators happy,” Laigo added.
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