Water firms submit new investment proposals

Manila Water Company Inc. and Maynilad Water Services Inc. have submitted fresh investment proposals on water and wastewater services.

Metropolitan Waterworks and Sewerage System (MWSS)-regulatory office chief Manuel P. Quizon said in a phone interview on Monday that the concessionaires turned over their respective business plans last Friday.

“The business plans cover the five-year period between 2013 and 2017,” Quizon said.

He said the submissions would later be transmitted to the MWSS’ corporate office for evaluation.

Quizon declined to reveal the amount of investments proposed, saying further details would be disclosed once the business plans have been evaluated.

Ayala-led Manila Water on Monday reported to the Philippine Stock Exchange that it had submitted its new business plan to the MWSS regulatory office in compliance with its concession agreement.

The business plan is an investment proposal for the development and improvement of facilities necessary for the provision of water, sewerage, and sanitation services to customers in the east service area, Manila Water said.

The water concessionaires’ last business plans covered the years 2008 to 2012. They raised water rates in 2008 under a rebasing plan, but the hike was interrupted in 2009 when the government banned water rate increases to help people cope with the effects of a global financial crisis. Thus, water rates were unchanged throughout 2009.