Laiban dam project not feasible - exec

MANILA, Philippines - MPIC-DMCI-led Maynilad Water Services Inc. president and chief executive officer Victorico Vergara does not see the Laiban dam project as a feasible water source project in spite of the call of Metropolitan Waterworks and Sewerage System (MWSS) chairman Ramon Alikpala for implementation of a big water source program.

In an interview on the sidelines of the launch of Maynilad’s Water Academy in Antipolo, Vergara said the Laiban dam project is “not feasible.”

A more feasible strategy is undertaking numerous scalable water projects, building more water catchment basins and water storage facilities, Vergara said as he pointed out that a lot of water was once again not conserved following the recent passage of typhoons Pedring and Quiel.

Maynilad, together with Ayala-led Manila Water Co. is set to undertake a P1 billion water resource enhancement project for the Angat Dam.

The project would involve the construction of a tunnel that would allow water from the Umiray and Sumag River in General Nakar, Quezon province, to flow to the Angat reservoir dam in Bulacan.

Meanwhile, Vergara assured that Maynilad remains on track with its growth target this year of one million water mark connection serving seven million customers

By 2012, Vergara said, Maynilad hopes to serve 98 percent of its customers.

Vergara also remains confident that Maynilad would hit its projected revenue target this year of P6 billlion.

Although it is still in the process of finalizing its budget, Vergara said Maynilad would probably retain a revenue target of P6 billion next year as it expects a “tough” year next year due to the scheduled rate rebasing negotiations.