Maynilad to invest P17.3B in 2015

MAYNILAD Water Services, Inc. (Maynilad) is investing P17.3 billion in core infrastructure projects this year such as wastewater management facilities.
In a statement, Maynilad said more than P6.5 billion had been set aside for wastewater management projects.
To further reduce water loss in the distribution network, almost P3.2 billion has been set aside for Maynilad’s Non-Revenue Water (NRW) reduction program.
Another P2 billion has been budgeted for the development of water sources, including the second phase of the Angat-Umiray Transbasin Tunnel.
To help ensure sufficient water supply and pressure in the West Zone, P1.5 billion has been earmarked for constructing, rehabilitating and upgrading boosters, pumping stations and reservoirs.
Maynilad recently lowered its capital allocation for the 2013–2017 period to P67 billion from its original P78 billion budget.
The recast investment program was part of concessions agreed upon to resolve its arbitration case with the Metropolitan Waterworks and Sewerage System and enable the water utility to raise tariffs.
“Despite having recast our five-year investment program, our planned capital expenditures for the West Zone will still enable us to meet our service obligations to our customers and the government,” said Maynilad president and CEO Ricky P. Vargas.
Maynilad is a privately owned contractor of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (certain areas), Quezon City (certain areas), Makati (certain areas), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon—all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario—all in Cavite province.