Maynilad sets record performance under MPIC-DMCI

Barely three years under new management, Maynilad has made significant improvements in water and sewerage services in the West Zone of the Greater Manila Area – registering record performance under its new owners.

To date, around P13 billion has been spent in the last two years and another P7 billion has been budgeted for 2009 to improve the water and wastewater system in the West Zone.  The 3-year investment by Metro Pacific Investments (MPIC) and DMCI Holdings, Inc. (DMCI) already exceeds the some P8 billion shelled out by the previous owners during the 10 years they ran the water firm.

Since January 2007, Maynilad has laid more than 1,100 kilometers of new pipes to connect over 110,000 households.  This is the most number of households connected in the history of the concession over the same period.

As of August 2009, nearly 60% of 790,000 Maynilad households now enjoy 24-hour water service, while an estimated 74% receive water at 7 pounds per square inch (psi) or stronger pressure.  These mark a significant rise from the 32% 24-hour service coverage and 45% 7-psi coverage prior to the takeover of the new owners of the company.

The huge improvements were due to the financial muscle given by Maynilad’s new owners to accelerate the company’s pipelaying and other infrastructure projects.

Beside its aggressive pipelaying efforts, the new Maynilad is also constructing new water treatment plants such as the 100-MLD (million liters per day) Putatan Water Treatment Plant and pumping stations such as the Villamor and PAGCOR PS in Pasay to ensure that there will be enough water to meet the demands of the company’s growing customer base in the South.

Maynilad cleared the first hurdle in its bid to extend its concession term after the Metropolitan Waterworks and Sewerage System (MWSS) Board of Trustees issued a resolution approving the water company’s term extension application.  The MWSS approval of Maynilad’s concession term extension is subject to the concurrence of the Department of Finance.

If finally approved by the Philippine Government, an extended term will allow Maynilad to increase its planned investments and lower its tariffs for customers.  The term extension will also enhance Maynilad’s ability to undertake long-term projects that will ensure the reliability and security of water supply for the West Zone, address environmental issues with an accelerated sewerage program, and generate thousands of jobs from these increased capital expenditures.

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