Maynilad earmarks P18B for ’14 capex
Maynilad Water Services Inc. has earmarked P18 billion for capital expenditure in 2014, the bulk of which will go to wastewater management projects.
According to Maynilad, the amount is so far its biggest capex kitty since 1997, when the company obtained the concession for water services in Metro Manila’s west zone.
Ricky P. Vargas, Maynilad president and chief executive, said in a statement that internally generated funds and loans from local and international banks would be used for the projects.
Vargas said the company’s projects were expected to create at least 58,000 jobs.
“We also hope to contribute to the job generation program of the government through our record investment,” he said.
Almost half—46 percent or P8.2 billion—of this year’s capex is allotted for wastewater management projects, including the construction of several sewerage treatment plants and conveyance systems in Muntinlupa, Parañaque and Valenzuela.
To expand the coverage of its services, Maynilad plans to lay primary lines in some areas in Cavite, Las Piñas, Muntinlupa, Parañaque and Quezon City. About 15 percent of the capex was set aside for this.
Also, the company intends to build, rehabilitate and upgrade boosters, pumping stations and reservoirs in an effort to ensure sufficient water supply and pressure in its concession area. This will cost P2.3 billion.
To reduce water losses, P2.2 billion has been earmarked for efforts related to meter and pressure management, active leakage control, primary line assessment, selective pipe replacement, and district metered area management.
The same amount is planned to be spent on water source development and about some P314 million on the modernization of the Maynilad’s data management and information systems.
