Maynilad Water Services Inc. is embarking on a P31-billion capital investment in 2024, the biggest investment for the company since water services in Metro Manila were privatized in 1997.
Maynilad president and chief executive Ramoncito Fernandez said the west zone concessionaire spent over P26 billion in capital investment, the highest annual capital expenditure in the history of the company last year.
“We are continuing to accelerate our service enhancement program so that our customers can enjoy the benefits sooner rather than later,” he said.
The company earmarked P11.40 billion for wastewater management projects, including the construction of new sewage treatment plants (STP) and laying of new sewer lines this year.
It is also spending P8.72 billion on new water projects to enable the company to tap alternate raw water sources and P6.27 billion for operations support projects.
More than P4 billion will be dedicated to the company’s non-revenue water reduction program and service expansion initiatives.
The rest of the 2024 capex will be used for its customer service and information infrastructure, among other projects, the company said.
Maynilad said funding for the massive infrastructure investment would come from local and international bank loans and internally-generated funds.
Based on the approved 2023 to 2027 business plan, Maynilad crafted a P227-billion spending plan to sustain service enhancements and ensure water sustainability and security.