Biggest ever: Maynilad to pour in P31-B capital outlays in 2024
MANILA, Philippines —Concessionaire Maynilad Water Services Inc. will earmark P31 billion in capital expenditures (capex) this year mainly for its water and wastewater projects.
This is a 19.23-percent jump from last year’s P26-billion capital investment and its highest annual outlays to date.
Wastewater management projects, including the construction of new sewage treatment plants and sewer lines, will take up 38 percent of the budget at P11.4 billion, Maynilad said in a statement on Wednesday.
Meanwhile, P8.72 billion will be earmarked for the implementation of water source projects to allow Maynilad to tap alternative raw water sources and boost supply for its more than 9.5 million customers.
The company currently sources most of its raw water supply from Angat Dam in Bulacan and Laguna Lake.
READ: Maynilad budgets P178B to ramp up waste water mgm’t
Some P6.27 billion will go toward operational support projects, such as upgrading and constructing pumping stations, water reservoirs and primary lines.
At least P4 billion will be set aside for its nonrevenue water reduction program and service expansion initiatives.
Non-revenue water reduction
Nonrevenue water refers to supply lost due to leaks and illegal connections. The nonrevenue water level of Maynilad stood at 43 percent of total volume in 2022, down from 68 percent in 2006.
“We are continuing to accelerate our service enhancement program so that our customers can enjoy the benefits sooner rather than later,” Maynilad president and CEO Ramoncito Fernandez said.
READ: Maynilad spending P2.7B to replace leaky Manila pipes
According to Maynilad, its massive infrastructure investment will be funded by a combination of internally-generated funds and new debt.
The company previously said it had set aside P227 billion for its 2023 to 2027 business plan “to sustain service enhancements and ensure water sustainability and security.”
Maynilad partially opened the P11-billion Poblacion water treatment plant in December last year.
Initially producing only 50 million liters of water per day (MLD), the facility is designed to produce 150 MLD at full capacity.
