Manila Water unit allots P5.56B for services in Clark Freeport
A UNIT of Manila Water Co., Inc. has earmarked P5.56 billion for capital expenditure (capex) from 2023 to 2040 to enhance services in the Clark Freeport Zone (CFZ) in Pampanga.
Clark Water Corp. is targeting to increase its current supply by 22% and is set to explore sustainable water sources and water reuse, the company said in an e-mailed statement on Tuesday.
The company serves the CFZ and the Clark Economic Zone as their water supplier and wastewater service provider. It is a unit of Manila Water Philippine Ventures, Inc. (MWPV), which is a subsidiary of Manila Water.
“Through these projects, aside from the goal of continuously improving service for our customers, we also aim to continue supporting CFZ and the Province of Pampanga in their journey as one of the Philippines’ major investment hubs,” Clark Water General Manager Lyn Zamora said.
Under its service improvement plan, Clark Water President Melvin John Tan said the capex was allocated to develop new infrastructure “anchored on water security, service quality, service accessibility and continuity, and regulatory compliance.”
“Clark Water fully supports the goal of making CFZ a premier business and tourism destination by providing locators with quality and sustainable water and wastewater services,” the company said.
It has committed to build and expand its water and sewer network and “implement effective maintenance and rehabilitation of its existing network.”
To date, Clark Water serves more than 1,000 locators in the CFZ, with around 2,000 water service connections.
In June last year, Manila Water said that MWPV signed a P1.53-billion loan with the Bank of the Philippine Islands to partially fund Clark Water’s projects, as well as pay for its service concession obligations.
The water concessionaire serves the east zone network of Metro Manila, covering parts of Marikina, Pasig, Makati, Taguig, Pateros, Mandaluyong, San Juan, portions of Quezon City and Manila, and several towns in Rizal province.
Shares of Manila Water fell by 1.09% or 20 centavos to close at P18.22 each. — Sheldeen Joy Talavera