Maynilad secures P2 billion loan from CTBC Bank

MANILA, Philippines — West Zone concessionaire Maynilad Water Services Inc. has secured a P2 billion loan from CTBC Bank (Philippines) Corp. to support its capital spending program.

In a statement, CTBC Bank said it has signed a bilateral loan agreement with Maynilad to support the water provider’s capital expenditure requirements and other general corporate needs.

The bank added that the loan facility would support the company’s investments in water and wastewater infrastructure, “aimed at improving service reliability across its concession area.”

Maynilad said the loan is not earmarked for any specific project but will help fund the company’s continuing investments in water management and infrastructures.

These include projects that expand water treatment capacity, develop additional water sources, improve operational reliability, reduce water losses and strengthen wastewater collection and treatment services.

“The additional financing provides Maynilad with greater funding flexibility to sustain the implementation of its broader capital investment program and deliver service improvements across its concession area,” the company said.

Maynilad said earlier that it had spent P5.4 billion on capital expenditures during the first quarter out of its P30 billion capex this year.

The company’s 2026 capital expenditures are part of its P163 billion investment for 2023 to 2027 and are mainly allocated to infrastructure projects designed to sustain service enhancements.

Expenditures were mainly on water treatment expansions, water source development, non-revenue water management and operation and customer service enhancements.

Among the projects up for completion this year is the 12-million-liter-per-day Pasay New Water facility along with the 40-million-liter Parada Reservoir and the 20-million-liter La Mesa raw water reservoir.

The company also said that it had reduced non-revenue water losses to 30.7 percent in the first quarter from 36.2 percent a year earlier.

Maynilad is the primary water and wastewater service provider for the West Zone, covering 11 cities in Metro Manila and parts of Cavite.