Maynilad earmarks P163-B for 5-year capital outlays

Water concessionaire Maynilad Water Services Inc. intends to spend about P163 billion in the next five years for the development of infrastructure projects aimed at improving water services.

Maynilad, in a statement, said the bulk of the proposed budget, or P101 billion, would be for water projects and the remainder would go to waste water projects.

Its five-year service improvement plan, said Maynilad, would enhance water security, environmental sustainability, service expansion and disaster resiliency.

“The bulk of the investment will go toward developing more water sources, building more pumping stations and reservoirs and replacing old pipelines so we can deliver more water supply in response to the growing demand,” Maynilad chief operating officer Randolph Estrellado said.

Estrellado said the customers situated in the farthest points of Maynilad’s distribution network would benefit the most upon the completion of additional water treatment plants in the pipeline, as they are yet to gain round-the-clock access to water supply.

“We have already built 20 waste water facilities since 2007, and we plan to build six more in the next five years so we can sustain sewer coverage expansion,” he added.

To bankroll its water and waste water undertakings, the West Zone concessionaire is seeking the Metropolitan Waterworks and Sewerage System’s approval for a rate increase of P13.31 per cubic meter. If approved, it will be implemented in tranches over the next five years, with the first tranche of P3.29 per cubic meter covering inflation adjustments. Maynilad noted the succeeding tranches of adjustments would be hinged on actual service improvements. INQ