Maynilad spends P2B in first quarter to improve service

MANILA, Philippines - Maynilad Water Services, Inc. reported yesterday that it has spent almost P2 billion in the first quarter of this year to improve water service in its concession area.

From 32 percent in 2007, the ratio of Maynilad customers who enjoy 24-hour water supply now stands at 79 percent.

Water pressure also increased significantly, with 92 percent of Maynilad customers enjoying at least seven pounds per square inch (psi) of pressure, compared to only 46 percent four years ago.

Dramatic improvement was also registered in the company’s non-revenue water (NRW) level.

Maynilad’s NRW has been reduced to 50 percent from 66 percent prior to the takeover of Metro Pacific Investments Corp. and DMCI Holdings Inc. in 2007.

These improvements are attributed to Maynilad’s continuing investments in its concession area through the replacement of old pipes, laying of primary distribution lines in unserved areas, development of new water sources, and construction of reservoirs to maximize efficiency in distributing water in its concession area.

For this year, Maynilad has allocated more than P8.5 billion for its capital expenditures. Of this amount, P3.7 billion has been reserved for the reinforcement and replacement of primary pipelines; P2.6 billion for its NRW management program; P1.6 billion for the wastewater program; and the balance for water sources, water production and other projects.

 “We are extremely proud of what we have achieved so far. If given the opportunity, we would like to share our expertise and resources so that the 16 million Filipinos who still do not have access to clean water will finally have the supply they need,” Maynilad president and chief executive officer Ricky Vargas said.

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

It is a concessionaire of the Metropolitan Waterworks and Sewerage System (MWSS) for the West Zone of the Greater Manila Area. 

It is owned by DMCI-MPIC Water Co. Inc. (DMWCI), a joint venture between MPIC and DMCI Holdings, Inc. (DMCIHI).