Maynilad investing P31B in 2024

West Zone concessionaire Maynilad Water Services Inc. (Maynilad) has earmarked P31 billion worth of investments for its water and wastewater projects in 2024.

In a news release on Wednesday, Maynilad said its spending budget for 2024 would be its biggest capital investment since water services in Metro Manila were privatized in 1997.

The company said the lion’s share of the budget, amounting to P11.4 billion, was set aside for wastewater management projects, including the construction of new Sewage Treatment Plants and laying of new sewer lines.

About P8.72 billion, on the other hand, was earmarked for implementation of water source projects that will enable Maynilad to tap alternate raw water sources and generate more supply for customers.

Another P6.27 billion has been allotted for operations support projects, such as the upgrade and construction of key facilities including pumping stations, water reservoirs, and primary lines, among others. 

Moreover, over P4 billion will be dedicated to the company’s non-revenue water reduction program and service expansion initiatives. 

Maynilad said the rest of its 2024 budget will be used for its customer service and information infrastructure, among other projects.

The company said its infrastructure investment will be funded by a combination of internally generated funds and new debt.

“Last year, we spent over P26 billion in capital investment, which is our highest annual capex spend in history. We are continuing to accelerate our service enhancement program so that our customers can enjoy the benefits sooner rather than later,” said Maynilad president and CEO Ramoncito Fernandez.

Per its approved 2023-2027 business plan, Maynilad has set a P227 billion total spending to sustain service enhancements and ensure water sustainability and security.

Maynilad is the concessionaire of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area —composed of the cities of Manila (certain portions), Quezon City (certain portions), Makati (west of South Super Highway), 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.—RF, GMA Integrated News