Maynilad investments hit P23B in 4 years

Maynilad Water Services Inc., the private water concessionaire for the west zone, has spent close to P23 billion and generated roughly 87,000 jobs since the new owners took over the company four years ago.

In a statement, Maynilad said Metro Pacific Investments Corp. and DMCI Holdings Inc. had invested heavily to improve the water distribution system in the west zone, by replacing old pipes, upgrading water facilities, expanding the distribution network and developing new water sources.

As a result, nearly 87,000 people had to be hired, including contractors and suppliers.

“This is one of the ways we contribute to nation building. We provide safe drinking water to our customers, stimulate the economy by supplying reliable and affordable water, and generate job opportunities through our infrastructure projects,” said Maynilad president and CEO Ricky Vargas.

For 2011 alone, Maynilad has allotted some P10.5 billion for its capital expenditures.

Of this amount, about P5.2 billion will be used to expand Maynilad’s service coverage and improve service levels in its concession area. The company will reinforce and replace its primary pipelines, and complete pipe-laying projects on Alabang-Zapote road and Gen. Tirona highway, which would connect unserved customers in the south.

Another P2.6 billion will be set aside for Maynilad’s nonrevenue water (NRW) management program, which includes active leak management, NRW diagnostic, and the establishment, isolation, measurement and rehabilitation of District Metered Areas (DMA) all over the West Zone.

Roughly P2.3 billion will go to Maynilad’s wastewater program, which will entail the construction of 11 sewage treatment plants within the year.

Other items in the 2011 capital expenditures budget include water sources, water production, natural calamity mitigation and other projects.

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

It serves portions of the cities of Manila, Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon, all in Metro Manila; as well as Cavite City, and the towns of Bacoor, Imus, Kawit, Noveleta and Rosario, all in Cavite province.