Manila Water subsidiary gets P200-M loan from BPI

It continues to invest in rehabilitating its existing facilities and building new infrastructure to ensure water service continuity in its service areas

Manila Water Company subsidiary Bulakan Water secured a P200 million loan from the Ayala-led Bank of the Philippine Islands to expand services in its franchise area.

In a stock report, Manila Water said Bulakan Water, through Filipinas Water Holdings Corp., signed a 10-year term loan facility with BPI.

The East Zone water concessionaire said 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 said it continues to invest in rehabilitating its existing facilities and building new infrastructure to ensure water service continuity in its service areas. Last year, it spent P13.7 billion in capital expenditures.

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


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