Maynilad spends P30B for projects since 2007

MANILA, Philippines - Metro Pacific and DMCI-led Maynilad Water Services, Inc. (Maynilad), the private water concessionaire for the West Zone, has spent P30 billion in projects from 2007 to 2011, generating more than 118,000 jobs.

In a statement, Maynilad said the figure is nearly three times more than the number of jobs created by the company from 1997 to 2006 when it was under its previous owners.

Among its capex initiatives are the massive rehabilitation and strategic replacement of old pipelines; laying of new pipes to unserved areas, installation of valves and other measuring devices across its water infrastructure network, and construction of new pumping stations, reservoirs and treatment facilities.

“Our infrastructure projects not only bring potable water to more West Zone communities, they also help stimulate the economy by generating jobs for more people. In the coming years, we are committed to creating even more employment opportunities through our service improvement projects,” said Maynilad president and CEO Ricky Vargas.

Among the 118,000 jobs created were those generated by contractors and suppliers that Maynilad commissioned and were required to meet the fast-tracked implementation of the company’s service improvement projects during the past five years.

Maynilad has allotted around P8.4 billion this year to improve and expand its water and wastewater services for its customers. This capital expenditure budget will be funded by a combination of corporate loans and internally generated funds.

Some P2.7 billion will go to Maynilad’s sewerage and sanitation drive while P1.9 billion will be used to upgrade key facilities including its pumping stations, water reservoirs, primary lines, among others.

Over P1.6 billion will be spent to lay new pipelines in unserved areas and nearly P1.8 billion will be used for the company’s aggressive non-revenue water (NRW) reduction program.

The rest of the 2012 capex budget will be used for the development of water sources, building and warehouse facilities, natural calamity mitigation and other projects.

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, which is composed of the cities of Manila (all but portions of San Andres and Sta Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the Districts of the Holy Spirit and Batasan Hills), Makati (west of South Super Hi-way), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; Cavite City, and the towns of Bacoor, Imus, Kawit, Noveleta and Rosario, all in Cavite province.