Connect with us

Hi, what are you looking for?

News

Maynilad allots nearly P10B for pipe replacements

MAYNILAD Water Services, Inc. has allotted P9.9 billion to replace pipes spanning 639 kilometers within its concession area in the next five years, it said on Tuesday.

“We are committed to investing in our infrastructure to continuously improve our services. Our goal is to provide 100% of our concession area with 24-hour supply at appropriate water pressure,” Maynilad Chief Operating Officer Randolph T. Estrellado said in a media release.

The company said the replacement of pipes covered the areas of Manila, Parañaque, Pasay, Muntinlupa, and Las Piñas, which is part of the P219.8 billion worth of capital expenditure that the company has set aside for 2023 to 2027.

Maynilad said that once the project is completed, it will support the water supply needs of at least 344,000 residents and will result in the recovery of some 66 million liters per day (MLD) of water.

Since 2007, Maynilad said that it has replaced 2,974 kilometers of old pipelines or at least 64% of the pipe network.

Maynilad, a concessionaire of the Metropolitan Waterworks and Sewerage System, serves the cities of Manila, except portions of San Andres and Sta. Ana. It also operates in Quezon City, Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon. It serves the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario in Cavite province.

Metro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Optimistic prospects are expected for the Philippine economy due to the passage of liberalization reforms and the openness of the administration to collaborate with...

News

Leveling up to a postpaid plan is now easier than ever as Smart has boosted its Signature Plan 599 by adding more data and...

News

PHOTO BY BERNARD HERMANT MANILA – Philippine annual inflation blew past expectations in January to reach a fresh 14-year high on surging food prices,...

Editor’s Pick

<?xml encoding=”utf-8″ ??> High energy costs and an eroding automotive supply chain in Britain are making Nissan Sunderland, the country’s largest car plant, uncompetitive,...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Google is set to unveil its rival to ChatGPT as the battle for the future of internet search comes to a...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Rishi Sunak is poised to mount a mini-reshuffle as he appoints a Conservative Party chairman. The prime minister is expected to...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.