Maynilad spent P2B in Q1 to boost service

MANILA, Philippines—Maynilad Water Services Inc. (Maynilad) has spent almost P2 billion in the first quarter to improve service levels in its concession area, the company said Monday.

As a result, the number of Maynilad customers who have 24-hour water supply now stands at 79 percent from 32 percent in 2007.

In a statement, the company said water pressure has increased significantly with 92 percent of Maynilad customers enjoying at least 7 pounds per square inch (psi) of pressure, compared with only 46 percent four years ago.

The water company’s Non-Revenue Water (NRW) level also dropped to 50 percent from 66 percent prior to the takeover of Metro Pacific Investments Corp. (MPIC) and DMCI Holdings Inc. in 2007.

Maynilad said it continuously invests in service improvement through the replacement of old pipes, laying of primary distribution lines in unserved areas, development of new water sources, and construction of reservoirs to maximize efficiency in distributing water in its concession area.

For this year, Maynilad has allocated more than P8.5 billion for capital expenditures.

Of this amount, some P3.7 billion has been reserved for the reinforcement and replacement of primary pipelines.

NRW management was allocated P2.6 billion and the wastewater program, P1.6 billion.

The balance will be used for water sourcing, water production and other projects.

“We are extremely proud of what we have achieved so far. If given the opportunity, we would like to share our expertise and resources so that the 16 million Filipinos who still do not have access to clean water will finally have the supply they need,” Maynilad president and CEO Ricky Vargas said.

Maynilad said it is the largest private water concessionaire in the Philippines in terms of customer base.