Fresh P200-M loan bankrolls Bulakan Water expansion

Photo courtesy of Public-Private Partnership Center

A subsidiary of publicly listed Manila Water Company, Inc. has secured a P200 million loan from the Ayala-led Bank of the Philippine Islands to ramp up services in its franchise area.

In a stock report, Manila Water said that its subsidiary– Bulakan Water Company, Inc., through Filipinas Water Holdings Corp., signed a P200 million 10-year loan term with BPI.

The East Zone water concessionaire said that loan proceeds will finance the “refurbishment, expansion, and improvement of the service facilities and the water source and distribution system, and provision of sanitation services in the service area of Bulakan Water.”

Bulakan Water is a joint venture between Filipinas Water Holdings Corp. which holds 90 percent of the company’s outstanding stock, and the state-run Bulacan Water District, which owns the remaining 10 percent.

Meanwhile, Filipinas Water is a consortium owned by Manila Water and Manila Water Philippine Ventures Inc.

Manila Water muttered that they continue to invest in the rehabilitation of their existing facilities and the building of new infrastructures to ensure water service continuity in all of their service areas.
In the previous year, they spent P13.7 billion on capital expenditures.

The company provides service to about 23 cities and municipalities. These include Makati, Mandaluyong, Pasig, Pateros, San Juan, Taguig, Marikina, most parts of Quezon City, portions of Manila, and 14 towns of Rizal province.

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