Daily TribuneProceeds will be utilized to help improve its water service coverage, increase water sources, reduce non-revenue water, improve sewerage coverage and treatment facilities, upgrade water treatment plants and facilities, and improve water availability
Metrobank institutional banking sector head Mylene Caparas (left) and Maynilad chief operating officer Randolph Estrellado at the signing of Maynilad’s P10-billion loan with Metrobank to fund projects that will improve water service coverage and availability.
Photograph courtesy of Metrobank
Maynilad Water Services Inc. (Maynilad) which provides water services to the West Zone of Metro Manila tapped Metropolitan Bank & Trust Co. (Metrobank) for P10 billion in loan to bankroll its capital requirements this year to improve water service coverage and availability.
As part of its ongoing commitment to optimize water management, enhance service quality, and contribute to building a more sustainable and resilient water utility sector, Maynilad said the 10-year loan, maturing in 2034, will be used to fund its capital expenditure requirements this year.
Proceeds will be utilized to help improve its water service coverage, increase water sources, reduce non-revenue water, improve sewerage coverage and treatment facilities, upgrade water treatment plants and facilities, and improve water availability.
10.3-M water users benefit
“With this loan, we are in a better position to pursue our capital expenditure program that will further enhance water services for our over 10.3 million customers. This supports our commitment to meet our service obligations and achieve sustainable growth,” Maynilad chief operating officer Randolph T. Estrellado said.
“Enabling our partners to empower Filipinos with essential resources is in line with our goal of helping communities grow. We are happy to support Maynilad through this loan deal because it is part of our commitment to ensure that every community in the country thrives,” Metrobank institutional banking sector head Mylene Caparas added.
Maynilad is the largest private water concessionaire in the Philippines in terms of customer base.
It is the concessionaire of the 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 & Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor, and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province.
